SOLUTION: 6. A survey of 100 MBA students found that 60 owned mutual funds, 40 owned stocks, and 20 owned both. a. What is the probability that a student owns a stock? A mutual fund? pr

Algebra ->  Algebra  -> Probability-and-statistics -> SOLUTION: 6. A survey of 100 MBA students found that 60 owned mutual funds, 40 owned stocks, and 20 owned both. a. What is the probability that a student owns a stock? A mutual fund? pr      Log On

Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!

   

Question 259106: 6. A survey of 100 MBA students found that 60 owned mutual funds, 40 owned stocks, and 20 owned both.
a. What is the probability that a student owns a stock? A mutual fund?
probability
mutual 60 0.6
stocks 40 0.4
b. What is the probability that a student owns neither stocks nor mutual funds?
i.
c. What is the probability that a student owns either a stock or a mutual fund?
i.

Answer by stanbon(57361) About Me  (Show Source):
You can put this solution on YOUR website!
A survey of 100 MBA students found that 60 owned mutual funds, 40 owned stocks, and 20 owned both.
a. What is the probability that a student owns a stock? A mutual fund?
probability
mutual 60 0.6
stocks 40 0.4
b. What is the probability that a student owns neither stocks nor mutual funds?
i. P(neither) = 0
c. What is the probability that a student owns either a stock or a mutual fund?
i. P(s or mf) = P(s) + P(mf) - P(s and mf)
= (0.4) + 0.6 - 0.2
= 0.80
================
Cheers,
Stan H.