QUANTITATIVE ANALYSIS as2

Copyright: Elodie Goodman

MGT 201 – Quantitative Analysis

Assignment 2

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.