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A small company conducted a survey of its employees to determine their attitudes toward a buyout of the company's stock. Each of the 1,040 employees
A small company conducted a survey of its employees to determine their attitudes toward a buyout of the company's stock. Each of the 1,040 employees was asked whether they favoured the buyout and whether they planned to retire within the next 15 years. Suppose a single employee is to be randomly selected.
Retirement within 15 years | Favour Buyout | Total | |
No | Yes | ||
No | 0.446 | 0.175 | 0.621 |
Yes | 0.172 | 0.207 | 0.379 |
Total | 0.618 | 0.382 | 1 |
Determine:
- the probability that the employee favours the buyoutorplans to retire within the next 15 years.
- the probability that the employee favours the buyoutgiventhat he or she plans to retire within the next 15 years.
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