statistics question bays theorem/probability

timer Asked: Feb 16th, 2015

Question description

a major national newspaper reports that these entrepreneurs by necessity are less likely to grow into large business than are entrepreneurs by choice. this article states that 78% of entrepreneurs in a certain area are entrepreneurs by choice and 22% are entrepreneurs by necessity. only 1% of entrepreneurs by necessity expect their new business to employ 20 or more people within five years, whereas 16% of entrepreneurs by choice expect to employ at least 20 people within five years

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