Labor-management dispute in industry

Reference no: EM131137243

With reference to Exercise 103, what is the probability that if a labor-management dispute in this industry is resolved without a strike, it was over wages?

It is known from experience that in a certain industry 60 percent of all labor-management disputes are over wages, 15 percent are over working conditions, and 25 percent are over fringe issues. Also, 45 percent of the disputes over wages are resolved without strikes, 70 percent of the disputes over working conditions are resolved without strikes, and 40 percent of the disputes over fringe issues are resolved without strikes.

What is the probability that a labor-management dispute in industry will be resolved without a strike?

Reference no: EM131137243

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