According to exit polling from the 2014 U.S. midterm elections, 36% of voters had a household income
Question:
According to exit polling from the 2014 U.S. midterm elections, 36% of voters had a household income less than $50,000, while 64% had a household income of at least $50,000. Forty-three percent of voters from households making less than $50,000 voted for the Republican party in the election, while 55% percent of voters from households making at least $50,000 voted Republican. What is the probability that a randomly selected Republican voter from the exit poll is from a household that makes at least $50,000?
Use Bayes' theorem to calculate the probabilities?
Fantastic news! We've Found the answer you've been seeking!
I am providing full time mentoring and tutoring services in Business Finance, Contemporary issue in Global Economy, Quantitative Techniques, Principles of Marketing, strategic marketing, International Marketing, Organizational Behavior (OB), Consumer Behavior, Sales Force Management, Strategic Brand Management, Services Marketing, Integrated Marketing Communication (IMC), Principles of Management, General Management, Strategic Management, Small and Medium Enterprise Management, Innovation Management, Change Management, Knowledge Management, Strategic Planning, Operations Management, Supply Chain Management, Logistics Management, Inventory management, Total Quality Management (TQM), Productions Management, Project Management, Production Planning, Human Resource Management (HRM), Human Resource Development, Strategic HRM, Organizational Planning, Performance and Compensation Management, Recruitment and Selection, Organizational Development, Global Issues in Human Resource Management, Retail Marketing, Entrepreneurship, Entrepreneurial Marketing, International Business, Research Methods in Business, Business Communication, Business Ethics.