CMA Foundation · Fundamentals of Business Mathematics and Statistics · Probability
In a Jaipur firm, 60% of employees are graduates. Of the graduates, 30% are in the finance department. An employee is chosen at random. What is the probability that the employee is a graduate in the finance department?
The probability is 0.18. The chance of being a graduate is 0.6, and the chance of being in finance given graduate is 0.3. By the multiplication theorem, the joint probability is 0.6 multiplied by 0.3, which equals 0.18.
- A0.90
- B0.18Correct
- C0.30
- D0.12
Explanation
P(graduate) = 0.6 and P(finance given graduate) = 0.3. By the multiplication theorem, the joint probability = 0.6 x 0.3 = 0.18. The option 0.90 wrongly adds the two figures.
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