SOLUTION: In 2001 the stock market took some big swings up and down. One thousand investors were asked how often they tracked their investments. The table shows the responses. What is the pr

Algebra ->  Probability-and-statistics -> SOLUTION: In 2001 the stock market took some big swings up and down. One thousand investors were asked how often they tracked their investments. The table shows the responses. What is the pr      Log On


   

Question 197808: In 2001 the stock market took some big swings up and down. One thousand investors were asked how often they tracked their investments. The table shows the responses. What is the probability that an investor tracks his portfolio daily?
How often tracked? Response
Daily 278
Weekly 235
Monthly 292
Few times a year 135
Do not track 60
Answer by stanbon(75887) About Me  (Show Source):
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In 2001 the stock market took some big swings up and down. One thousand investors were asked how often they tracked their investments. The table shows the responses. What is the probability that an investor tracks his portfolio daily?
How often tracked? Response
Daily 278
Weekly 235
Monthly 292
Few times a year 135
Do not track 60
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Based only on this sample the probability that an investor tracks
his portfolio daily = 278/1000 = 0.278
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Cheers,
Stan H.