The results of a census of 2,500 employees of a midsized company with 401(k) retirement accounts are

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The results of a census of 2,500 employees of a midsized company with 401(k) retirement accounts are as follows:

Account Balance (to nearest $) Male Female  $25,000 635 495 $25,000 $49,999 185 210 $50,000 $99,999 515 260 $100,000 155 45 Suppose researchers are going to sample employees from the company for further study.

a. Based on the relative frequency assessment method, what is the probability that a randomly selected employee will be a female?

b. Based on the relative frequency assessment method, what is the probability that a randomly selected employee will have a 401(k) account balance of between $25,000 and $49,999?

c. Compute the probability that a randomly selected employee will be a female with an account balance between $50,000 and $99,999.

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Business Statistics A Decision Making Approach

ISBN: 9780136121015

8th Edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith

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