Question
A survey of subscribers to Forbes showed that 72% have investments in money market funds (Forbes 1993 Subscriber Study). Further, of those who have invested
A survey of subscribers to Forbes showed that 72% have investments in money market funds (Forbes 1993 Subscriber Study). Further, of those who have invested in money market funds, 27.78% have also invested in certificates of deposit (CDs). Of those who have not invested in money market funds, 58.57% have invested in CDs.
(a) Organize the above information into a probability tree.
(b) What percentage of subscribers have invested in both money market funds and CDs?
(c) What percentage of subscribers have invested in either money market funds or CDs?
Step by Step Solution
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Step: 1
Let the total number of subscribers be x Given that 72 have invested in market funds that is the num...
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Statistical Reasoning for Everyday Life
Authors: Jeff Bennett, Bill Briggs, Mario F. Triola
4th edition
978-0321817747, 321817745, 978-0321890139, 321890132, 321817621, 978-0321817624
