Probability that economic conditions are good

Reference no: EM1320556

Q1) Table below signifies results of a survey of 500 Households in Q1 2005:

	Current Economic conditions are GOOD	Current Economic conditions are FAIR	Current Economic conditions are BAD
Jobs Are HARD To Get	25	145	70
Jobs Are EASY To Get	100	145	15

a) If Household is selected at random, find out the probability that it feels economic conditions are good?

b) If Household is selected at random, find out the probability that it feels Jobs are easy to get?

c) If a Household is selected at random, find out the probability that it feels Jobs are hard to get and economic conditions are bad?

d) Given that a household feels Jobs are hard to get, find out the probability that it feels current economic conditions are fair?

e) Given that a household feels economic conditions are good, what is the probability that it feels Jobs are hard to get?

f) Find out the probability a randomly chosen Household feels Jobs are hard to get or economic conditions are bad?

Reference no: EM1320556

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