Your company provides services to three different industries: automotive, construction, and financial services.These services can be either on a yearly or on a monthly contract.The cross-tabulation below summarizes this information: $$\begin{array} { | l | l | l | l | }
\hline & \text { Morthly } & \text { Yearly } & \text { Total } \
\hline \text { Automotive } & 125 & 85 & 210 \
\hline \text { Construction } & 212 & 351 & 563 \
\hline \text { Finaricial } & 357 & 210 & 567 \
\hline \text { Total } & 694 & 646 & 1340 \
\hline
\end{array}$$ Suppose you know that a given client is a construction company and you are interested in the likelihood that this client is on a yearly contract.This is an example of _______.
A)joint probability
B)marginal probability
C)conditional probability
D)a priori probability
E)a posteriori probability

Question

Your company provides services to three different industries: automotive, construction, and financial services.These services can be either on a yearly or on a monthly contract.The cross-tabulation below summarizes this information: $$\begin{array} { | l | l | l | l | } 
\hline & \text { Morthly } & \text { Yearly } & \text { Total } \
\hline \text { Automotive } & 125 & 85 & 210 \
\hline \text { Construction } & 212 & 351 & 563 \
\hline \text { Finaricial } & 357 & 210 & 567 \
\hline \text { Total } & 694 & 646 & 1340 \
\hline
\end{array}$$ Suppose you know that a given client is a construction company and you are interested in the likelihood that this client is on a yearly contract.This is an example of _______.
A)joint probability
B)marginal probability
C)conditional probability
D)a priori probability
E)a posteriori probability

Quizplus · Accepted Answer

This is an example of conditional probability because it involves finding the probability of an event (a construction company being on a yearly contract) given that another event has occurred (the company is in the construction industry).

Your Company Provides Services to Three Different Industries: Automotive, Construction