A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows. Money-market 25% High-risk stock 16% Short bond 10% Moderate-risk stock 25% Intermediate bond 6% Balanced 13% Long bond 5% A customer who owns shares in just one fund is randomly selected. (a) What is the probability that the selected individual owns shares in the balanced fund? (b) What is the probability that the individual owns shares in a bond fund? (c) What is the probability that the selected individual does not own shares in a stock fund?

A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows. Money-market 25% High-risk stock 16% Short bond 10% Moderate-risk stock 25% Intermediate bond 6% Balanced 13% Long bond 5% A customer who owns shares in just one fund is randomly selected. (a) What is the probability that the selected individual owns shares in the balanced fund? (b) What is the probability that the individual owns shares in a bond fund? (c) What is the probability that the selected individual does not own shares in a stock fund?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Money-market	25%	High-risk stock	16%
Short bond	10%	Moderate-risk stock	25%
Intermediate bond	6%	Balanced	13%
Long bond	5%

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A mutual fund company offers its customers a varietyof funds: a money-market fund, three different bondfunds (short, intermediate, and long-term), two stockfunds (moderate and high-risk), and a balanced fund.Among customers who own shares in just one fund,the percentages of customers in the different funds areas follows:Money-market 20% High-risk stock 18%Short bond 15% Moderate-riskstock 25%Intermediate Balanced 7%bond 10%Long bond 5%A customer who owns shares in just one fund is randomlyselected.a. What is the probability that the selected individualowns shares in the balanced fund?b. What is the probability that the individual ownsshares in a bond fund?c. What is the probability that the selected individualdoes not own shares in a stock fund?
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