Question: A joint survey by Parade magazine and Yahoo found that 59% of American workers say that if they could do it all over again, they

A joint survey by Parade magazine and Yahoo found that 59% of American workers say that if they could do it all over again, they would choose a different career (USA today, September 24, 2012). The survey also found that 33% of American workers say they plan to retire early and 67% say they plan to wait and retire at age 65 or older. Assume that the following joint probability table applies.


A joint survey by Parade magazine and Yahoo found that


a. What is the probability a worker would select the same career?
b. What is the probability a worker who would select the same career plans to retire early?
c. What is the probability a worker who would select a different career plans to retire early?
d. What do the conditional probabilities in parts (b) and (c) suggest about the reasons workers say they would select the samecareer?

Retire Early Yes 20 13 .33 No 21 46 67 Same Different .41 .59 Career

Step by Step Solution

3.48 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Let S worker would select the same career D worker would selec... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

404-M-S-P (989).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!