00:01
All right, and your question, you're given data about increasing social media use for marketers, depending on the type of marketer they are.
00:10
I have that table copied.
00:12
Now, part a wants the probability that we know we have a b2b marketer, and we want to know what's the probability that they plan to increase use.
00:23
So the way you would write that in probability notation is we are looking for the probability of increasing social media.
00:30
Media use given that we know we're dealing with a b2b marketer.
00:36
This is called a conditional probability and the vertical bar is stating the fact that we are given we know what happens after the vertical bar.
00:48
Okay, so how does that translate into our table? well, since we know we're just dealing with a b2b marketer, we only look at the b2b marketer column.
01:01
And we want increased social media use, which is the yes.
01:05
So that's 501 out of a thousand in that column.
01:11
As a decimal, that's 0 .501.
01:15
The same thing would apply for part b, but now we're looking or no, we have a b2c marketer.
01:21
So we're only in the second column.
01:24
So that's 793 that want to increase social media use out of 1 ,000, which is 0 .793 as a decimal...