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Consider a population of 2000 individuals, 800 of whom are woman. Assume that 300 of the woman in this population earn at least $60,000 per year, and 200 of the men earn at least $60,000 per year.
1. What is the probability that a randomly selected individual from this population earns less than $60,000 per year?
2. If a randomly selected individual is observed to earn less than $60,000 per year, what is the probability that this person is a man?
3. If a randomly selected individual is observed to earn at least $60,000 per year, what is the probability that this person is a woman?
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I have been asked to suppose that faculty at my college are assigned overload courses hence additional compensation beyond the required contract hours based on seniority.
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