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. What is the probability that a randomly selected company does not plan to add jobs during the next 18 months?

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.  What is the probability that a randomly selected company does not plan to add jobs during the next 18 months?

Quizplus · Accepted Answer

To find the probability that a randomly selected company does not plan to add jobs during the next 18 months, we need to look at the number of companies that reported they do not plan to add jobs and divide it by the total number of companies surveyed. From the information given in the question, we cannot determine exactly how many companies reported they do not plan to add jobs. However, we know that the survey reported the hiring outlook for the next 18 months for 500 top Canadian companies. Therefore, the total number of companies in the survey is 500. So, the probability that a randomly selected company does not plan to add jobs is equal to the number of companies that reported they do not plan to add jobs divided by 500. Since we don't know the exact number of companies that don't plan on adding jobs, the best answer is B, which represents the complement of the number of companies planning to add jobs (500-165=335).

A Survey of 500 Top Canadian Companies Reported What the Companies