The decision about where to build a new plant is a major one for most companies. One
Question:
The decision about where to build a new plant is a major one for most companies. One factor that is often considered is the education level of the location’s residents. Census information may be useful in this regard. After analyzing a recent census, a company produced the following joint probabilities.
Region Education Northeast Midwest South West Not a high school graduate .024 .024 .059 .036 High school graduate .063 .078 .117 .059 Some college, no degree .023 .039 .061 .045 Associate’s degree .015 .021 .030 .020 Bachelor’s degree .038 .040 .065 .046 Advanced degree .024 .020 .032 .023
(Source: Statistical Abstract of the United States, 2009, Table 223.)
a. Determine the probability that a person living in the West has a bachelor’s degree.
b. Find the probability that a high school graduate lives in the Northeast.
c. What is the probability that a person selected at random lives in the South?
d. What is the probability that a person selected at random does not live in the South?
Step by Step Answer:
Statistics For Management And Economics
ISBN: 9781133420774
9th Edition
Authors: Gerald Keller, Kenneth C Louden