Question

A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 55% chance of hiring at least two candidates. There is only a 6% chance that it will not make any hires and a 20% chance that it will make all three hires.

a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.)

Answer 1

The probability that the firm will make at least one hire is 94%, calculated by subtracting the probability of no hires (6%) from 1.

Step-by-step explanation:

The probability that the firm will make at least one hire is found by subtracting the probability of making no hires from 1. Given there's a 6% chance it will not make any hires, we have:

Probability of at least one hire = 1 - Probability of no hires

Probability of at least one hire = 1 - 0.06

Probability of at least one hire = 0.94 or 94%

Therefore, the firm has a 94% chance of making at least one new hire.