Question
After reading a recent report revealing that workplace diversity can improve the development of ideas, Quantitative Industrial (QI) decides to hire 2 recent graduates to
After reading a recent report revealing that workplace diversity can improve the development of ideas, Quantitative Industrial (QI) decides to hire 2 recent graduates to have a better age-profile in its workforce. They interview many candidates but have settled on 5 finalists for the position. They have ranked their choices from 1 to 5. Unbeknownst to them, each finalist has a certain probability of accepting their offer of $60,000 as the starting salary: Candidate 1 -- 25% Candidate 2 -- 50% Candidate 3 -- 10% Candidate 4 -- 0% or 100% if candidate 5 is also hired Candidate 5 -- 50% ----------------------------------------- Suppose that the firm researches the market average and finds that on average 1 out of every 3 job offers is accepted. Therefore they expect that one of their first three candidates will accept the position. What's the likelihood that they will be correct?
DO NOT ANSWER THIS WITH 2.5 ~ 3. THAT IS FOR A DIFFERENT QUESTION
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