Probability of receiving bonus

  • Thread starter desmond iking
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In summary, the problem involves a factory with 36 male workers and 64 female workers. 10 of the male workers earn less than $1000 per month and 17 of the female workers earn at least $1000 per month. At the end of the year, workers earning less than $1000 are given a bonus of $1000, while others receive a month's salary. If one male worker and one female worker are randomly chosen, the probability that exactly one worker receives one month's salary is 0.604. However, there are two possible interpretations of the problem, which could result in different answers.
  • #1
desmond iking
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Homework Statement


A factory of 36 male workers and 64 female workers. woth 10 male workers earning less than $1000 per month and 17 female workers earning at least $1000 per month . At the end of year, workers earning less than $1000 are given a bonus of $1000 whereas others receive a month's salary.
If a male worker and a female worker are randomly chosen , find the probability that exactly one worker receive one month salary
here's my working.

P(male receive one month salary , female not receive one month salary) +P(female not receive one month salary , male receive one month salary) + P(female receive one month salary , male not receive one month salary) +P( male not receive one month salary , female receive one month salary

= (0.26 x (47/99)x2 ) + ( (0.17x (10/99) x2 ) = 0.28

but the ans is 0.604

Homework Equations





The Attempt at a Solution

 
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  • #2
You are making the same mistake you did in the almost identical problem you posted with "RM" rather than "$". You are using "100" as the denominator when you are given that one person is a male and the other female. Use "36" as the denominator for the male and 64 for the female worker.

The probability that a male worker earns less than $1000 is 10/36 and over $1000 is 26/36.

The probability that a female worker earns less than $1000 is 17/64 and over $1000 is 47/64.
 
  • #3
desmond iking said:

Homework Statement


A factory of 36 male workers and 64 female workers. woth 10 male workers earning less than $1000 per month and 17 female workers earning at least $1000 per month . At the end of year, workers earning less than $1000 are given a bonus of $1000 whereas others receive a month's salary.
If a male worker and a female worker are randomly chosen , find the probability that exactly one worker receive one month salary
here's my working.

P(male receive one month salary , female not receive one month salary) +P(female not receive one month salary , male receive one month salary) + P(female receive one month salary , male not receive one month salary) +P( male not receive one month salary , female receive one month salary

= (0.26 x (47/99)x2 ) + ( (0.17x (10/99) x2 ) = 0.28

but the ans is 0.604

Homework Equations





The Attempt at a Solution


There are two possible interpretations:
(1) One male chosen at random from the male workers and one female chosen at random from the female workers.
(2) Two workers chosen randomly; one of them happens to be male and one female.

I suspect that (1) is the intended interpretation, but your working seems to be for (2). How would you tackle (1)?

Note: the two interpretations could give very different answers.
 

1. What is the probability of receiving a bonus?

The probability of receiving a bonus depends on several factors, such as the company's financial performance, individual performance, and the bonus structure of the company. It is not a fixed number and can vary from person to person and year to year.

2. How do companies determine the probability of receiving a bonus?

Companies typically use a combination of quantitative and qualitative measures to determine the probability of receiving a bonus. This can include factors such as meeting performance targets, financial results, and overall company performance.

3. Are there any strategies to increase the probability of receiving a bonus?

While there is no guaranteed way to increase the probability of receiving a bonus, some strategies that can potentially help include setting clear and measurable goals, consistently performing well, and building a strong relationship with your superiors.

4. Can the probability of receiving a bonus change over time?

Yes, the probability of receiving a bonus can change over time. This can be affected by various factors such as changes in company performance, market conditions, and individual performance. It is important to regularly review and assess your performance to understand your chances of receiving a bonus.

5. Is there a way to calculate the exact probability of receiving a bonus?

No, there is no way to accurately calculate the exact probability of receiving a bonus. This is because it is influenced by numerous subjective and objective factors and can vary greatly from person to person. However, you can get an idea of your chances by understanding the bonus structure and your performance within the company.

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