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Question: A recent graduate has submitted his application to the World Bank for a position in the Young Professional Program. He knows the Bank hires 4% of its applicants. Only some of the applicants receive an interview. It is known that among all the applicants hired 98% receive inter-views, the other 2% being related to Division Chiefs! Furthermore, among all applicants not hired only 1% are interviewed. Our recent graduate was just called for an interview and asks you to tell him the probability that he will be hired. What do you tell him?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93115896

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