SOLUTION: Conditional probability: Basic At a certain college, 47% of the students are female, and 21% of the students major in finance. Furthermore, 12% of the students both are female and

Question 181139: Conditional probability: Basic
At a certain college, 47% of the students are female, and 21% of the students major in finance. Furthermore, 12% of the students both are female and major in finance.

(a) What is the probability that a randomly selected finance major is female? Round your answer to 2 decimal places.
(b) What is the probability that a randomly selected female student majors in finance? Round your answer to 2 decimal places.

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Conditional probability: Basic
At a certain college, 47% of the students are female, and 21% of the students major in finance. Furthermore, 12% of the students both are female and major in finance.
(a) What is the probability that a randomly selected finance major is female? Round your answer to 2 decimal places.
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P(female|finance major) = [P(female AND finance major)] / P[finance major]
= 0.12/0.21 = 0.5714...
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(b) What is the probability that a randomly selected female student majors in finance? Round your answer to 2 decimal places.
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P(majors in finance|female) = P(majors in fin AND female) / P(female)
= 0.12/0.47 = 0.2553..
Cheers,
Stan H.

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