3.36

The Organization Development Journal (Summer 2006) reported on the results of a survey of human resource officers (HROs) at major employers located in a southeastern city. The focus of the study was employee behavior, namely absenteeism, promptness to work, and turnover. The study found that 55% of the HROs had problems with employee absenteeism; also 41% had problems with turnover. Suppose that 22% of the HROs had problems with both absenteeism and turnover. Use this information to find the probability that an HRO selected from the group surveyed had problems with either employee absenteeism or employee turnover (or both). [10 pts]

 3.42

A finance journal published a study of whether the decision to invest in the stock market is dependent on IQ. Information on a sample of 154,015 adults living in Finland formed the database for the study. An IQ score(from a lowscore of 1 to a high score of9) was determined for each Finnish citizen as well as whether or not the citizen invested in the stock market. The following table gives the number of Finnish citizens in each IQscore/investment category. Suppose one of the 154,015 citizens is selected at random. Complete parts a through f.

a.  What is the probability that the Finnish citizen invests in the stock market?The probability is (Round to the nearest thousandth as needed.)

b.  What is the probability that the Finnish citizen has an IQ score of 6 or higher?The probability is (Round to the nearest thousandth as needed.)

c.  What is the probability that the Finnish citizen invests in the stock market and has an IQ score of 6 or higher?The probability is (Round to the nearest thousandth as needed.)

d.  What is the probability that the Finnish citizen invests in the stock market or has an IQ score of 6 or higher?The probability is (Round to the nearest thousandth as needed.)

e.  What is the probability that the Finnish citizen does not invest in the stockmarket?The probability is (Round to the nearest thousandth as needed.)

f.   Are the events {Invest in the stock market} and {IQ score of 1} mutually exclusive?

A.  ​Yes, they are mutually exclusive because there are no Finnish citizens who invest in the stock market and have an IQ score of 1.

B.  ​Yes, they are mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.

C.  ​No, they are not mutually exclusive because the probability that a Finnish citizen invests in the stock market and has an IQ score of 1 is very small.

D.  ​No, they are not mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.