survey of a random sample of 1019 U.S. adults with invest- ments of $10,000 or more. Based on the survey data, it was estimated that 31% of investors manage their investments by doing everything they possibly can online. But the authors of the article also noted that there was a quite a difference between younger investors (ages 18 to 49) and older inves- tors (ages 50 and older). For younger investors, 43% said they do everything they possibly can online, while the per- centage for older investors was 23%. a. Use the given information to estimate P(O), P(O|Y), and P(O|F) where O 5 event that a randomly selected inves- tor does everything possible online, Y 5 event that a randomly selected investor is age 18 to 49, and F 5 event that a randomly selected investor is 50 years old or older. b. Suppose that 40% of investors are between the ages of 18 and 49. Use the probabilities from Part (a) and the esti- mate P(Y) 5 0.40 to construct a hypothetical 1000 table.Then use information in the table to calculate P(Y|O) and write a sentence interpreting this value in the context of this exercise.
survey of a random sample of 1019 U.S. adults with invest-
ments of $10,000 or more. Based on the survey data, it was estimated that 31% of investors manage their investments by
doing everything they possibly can online. But the authors
of the article also noted that there was a quite a difference between younger investors (ages 18 to 49) and older inves-
tors (ages 50 and older). For younger investors, 43% said they do everything they possibly can online, while the per-
centage for older investors was 23%.
a. Use the given information to estimate P(O), P(O|Y), and P(O|F) where O 5
tor does everything possible online, Y 5 event that a randomly selected investor is age 18 to 49, and F 5 event
that a randomly selected investor is 50 years old or older.
b. Suppose that 40% of investors are between the ages of 18 and 49. Use the probabilities from Part (a) and the esti-
mate P(Y) 5 0.40 to construct a hypothetical 1000 table.Then use information in the table to calculate P(Y|O) and
write a sentence interpreting this value in the context of
this exercise.
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