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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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rgasio rgasio
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6 years ago
An accounting firm noticed that of the companies it audits, 85 show no inventory shortages, 10 show small inventory shortages, and 5 show large inventory shortages. The firm has devised a new accounting test for which it believes the following probabilities hold: P(company will pass test  no shortage) = .90 P(company will pass test  small shortage) = .50 P(company will pass test  large shortage) = .20
 a. If a company being audited fails this test, what is the probability of a large or small inventory shortage?
  b. If a company being audited passes this test, what is the probability of no inventory shortage?
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whitneyracquelwhitneyracquel
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