SOLUTION: A survey of a class of 34 students in a business school showed the following selection of majors
Accounting 10
Finance 5
Info. systems 3
Management 6
M
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-> SOLUTION: A survey of a class of 34 students in a business school showed the following selection of majors
Accounting 10
Finance 5
Info. systems 3
Management 6
M
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Question 277713: A survey of a class of 34 students in a business school showed the following selection of majors
Accounting 10
Finance 5
Info. systems 3
Management 6
Marketing 10
Suppose you select a student. What is the probability he/she is a management major? Which concept of probability did you use to make this estimate?
You can put this solution on YOUR website! A survey of a class of 34 students in a business school showed the following selection of majors
Accounting 10
Finance 5
Info. systems 3
Management 6
Marketing 10
Suppose you select a student. What is the probability he/she is a management major? Which concept of probability did you use to make this estimate?
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Based on this empirical evidence the answer would have
to be 6/34. You have no other information so you have
to go based on what you have. There no "theoritical
answers to the question; only empirical evidence is
available.
Cheers,
Stan H.
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