Quantitative Methods in Business and Management

Exercise 1:
In a management trainee program, 80% of the trainees are female, 10% male. A total of 70% of the females attended college, while 60% of the males attended college. A management trainee is selected at random.
1. What is the probability that the person selected is a female who did NOT attend college?
= 0.80 * 0.30 = 0.24 (24%)

2. What is the probability that the person selected is a female who did attend college?
= 0.80 * 0.70 = 0.56 (56%)

3. What is the probability that the person selected is a male who did NOT attend college?
= 0.10 * 0.40 = 0.04 (4%)

4. What is the probability that the person selected is a male who did NOT attend college?
= 0.10 * 0.40 = 0.04 (4%)

Exercise 2
A group of employees of Unique Services will be surveyed about a new pension plan. In-depth interviews with each employee selected in the sample will be conducted. The employees are classified as follows.

Classification
Event
Number of employees
Supervisors
A
150
Maintenance
B
50
Production
C
1000
Management
D
250
Secretarial
E
60

1. What is the probability that the first person selected is classified as a maintenance employee?
P (B) = 50 ∕ 1510 = 0.033

2. What is the probability that the first person selected is either in maintenance or in secretarial?

P (B U E) = P (B) + P (E) = 0.033+ 0.039 = 0.072

3. What is the probability that the first person selected is either in management or in supervision?
P (D U A) = P (D) + P (A) = 0.165+ 0.099 = 0.264

4. What is the probability that the first person selected is a supervisor and in management?
P (A n D) = P (A) P (D) = 0.099*0.165 = 0.016
Exercise 3
A company set up a kiosk in the Mall of America for several hours and asked randomly selected people which color cell phone was their favorite. The results follow:

White
10
Black
15
Lime
35
Orange
10
Red
30

1. What is the probability that a person would select orange as their favorite color?

P (orange) = 10 ∕ 100 = 0. 10

2.