QUANTITATIVE ANALYSIS As2
Copyright: Elodie Goodman
MGT 201 – Quantitative Analysis
1. Chapter 4 Textbook problem # 33, 41, 49, 51
2. The following article claims that less than 10% of drug trials are ultimately approved: https://www.nytimes.com/interactive/2020/04/30/opinion/coronavirus-covid-vaccine.html They use information illustrated from in the diagram reproduced below to arrive at this percentage:
Using this information, calculate the probability that a given drug is ultimately approved by the FDA. Carefully define notations/ events and what probabilities you are manipulating and why.