It is estimated that 29% of all adults in the United States invest in stocks and that 86% of U.S. adults have investments in fixed income instruments (savings accounts, bonds, etc.). It is also estimated that 24% of U.S. adults have investments in both stocks and fixed income instruments. Answer the questions below. (If necessary, consult a list of formulas.) (a) What is the probability that a randomly chosen stock investor also invests in fixed income instruments? Round your answer to 2 decimal places. (b) What is the probability that a randomly chosen U.S. adult invests in stocks, given that s/he invests in fixed income instruments? Round your answer to 2 decimal places.
It is estimated that 29% of all adults in the United States invest in stocks and that 86% of U.S. adults have investments in fixed income instruments (savings accounts, bonds, etc.). It is also estimated that 24% of U.S. adults have investments in both stocks and fixed income instruments. Answer the questions below. (If necessary, consult a list of formulas.) (a) What is the probability that a randomly chosen stock investor also invests in fixed income instruments? Round your answer to 2 decimal places. (b) What is the probability that a randomly chosen U.S. adult invests in stocks, given that s/he invests in fixed income instruments? Round your answer to 2 decimal places.
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 50E: Flexible Work Hours In a recent survey, people were asked whether they would prefer to work flexible...
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Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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Transcribed Image Text:It is estimated that 29% of all adults in the United States invest in stocks and that 86% of U.S. adults have investments in fixed income instruments (savings
accounts, bonds, etc.). It is also estimated that 24% of U.S. adults have investments in both stocks and fixed income instruments.
Answer the questions below. (If necessary, consult a list of formulas.)
(a) What is the probability that a randomly chosen stock investor also invests
in fixed income instruments? Round your answer to 2 decimal places.
(b) What is the probability that a randomly chosen U.S. adult invests in stocks,
given that s/he invests in fixed income instruments? Round your answer to
2 decimal places.
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