Question

A survey of 500 top Canadian companies reported what the companies' hiring outlook was for the next 18 months as well as the general company outlook for the economy over the same period of time.

Economy Outlook	Add Jobs	Hiring Outlook No Change	Cut Jobs
Favourable	100	50	25
Unknown	50	150	60
Unfavourable	15	10	40

Given that a randomly selected company has a favourable forecast, what is the probability that it plans to cut jobs during the next 18 months?

Answer 1

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Answer:

P(a favourable outlook for the economy | cut jobs) = P(a favourable outlook for the economy and cut jobs) / P(favorable forecast)

=(25/500)/(175/500)=25/175