A recent survey reported in BusinessWeek dealt with the salaries of CEOs at larg

Question

A recent survey reported in BusinessWeek dealt with the salaries of CEOs at large corporations and whether company shareholders made money or lost money.

The CEO made more than $1 million or the shareholders lost money. (Round your answer to 2 decimal places.)

The CEO made more than $1 million given the shareholders lost money. (Round your answer to 4 decimal places.)

Select two CEOs and find that they both made more than $1 million. (Round your answer to 4 decimal places.)

CEO Paid
More Than
$1 Million CEO Paid
Less Than
$1 Million Total   Shareholders made money 2 9         11           Shareholders lost money 4 5         9                   Total 6 14         20           

Explanation / Answer

a)   Probability =6/20 =0.3

b)  Probability =(6+9-4)/20=0.55

c) Probability =4/9 =0.4444

d)  Probability =(6/20)*(5/19)=0.0789

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