SOLUTION: According to a study conducted in 2003 concerning the participation, by age, of 401(k) investors, the following data were obtained:
Age 20s 30s 40s 50s 60s
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Question 928168: According to a study conducted in 2003 concerning the participation, by age, of 401(k) investors, the following data were obtained:
Age 20s 30s 40s 50s 60s
Percent 11 28 30 25 6
(a) What is the probability that a 401(k) investor selected at random was in his or her 20s or 60s?
(b) What is the probability that a 401(k) investor selected at random was under the age of 50?
Answer by 428225(90) (Show Source): You can put this solution on YOUR website!
Part a)
_
P(20s) = 11%
P(60s) = 6%
11+6= 17%
_
Part b)
100% - P(50s) - P(60s)
=100-25-6
=69%
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