Probability of a decreasing employment

Reference no: EM13102510

Consider the following two economic characteristics with two possible outcomes each: employment (increase, decrease) and economic trend (positive, negative). Let the probability of a decreasing employment be 0.6 and the probability of a positive economic trend 0.5. Further, assume that the probability of a decreasing employment given a negative economic trend is 0.7.

Reference no: EM13102510

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