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1. A psychologist developed a test designed to help predict whether production-line workers in a large industry will perform satisfactorily. A test was administered to all new employees in a corporation. At the end of the first year of work, these employees were rated by their supervisors: 18% were rated excellent, 53% were rated satisfactory and 29% were rated poor. 48% percent of those rated excellent passed the psychologist's test, as did 22% of those rated satisfactory and 12% of those rated poor.
a) What is the probability that a randomly selected employee will pass the psychologist's test?
b) What is the probability that an employee who doesn't pass the test will be rated excellent or satisfactory?
2. A Professor finds that he awards a final grade of A+ in QT to 20% of the students. Of those who obtain a final grade of A+, 70% obtained an A+ in the mid-term examination. Also, 10% of the students who failed to obtain a final grade of A+ earned an A+ in the mid-term examination. What is the probability that a student with an A+ in the mid term examination will obtain a final grade of A+ ?
You are given the following regression results estimating the demand for widgets based on time series data for the past 40 months. Q t = 2.5 - 0.3 x P t + 12 x M t Where Q
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