Financial experts say retirement accounts are one of the best tools for saving and investing for the future. Are millennials and Gen Xers financially prepared for the future? A survey of American adults conducted by INSIDER and Morning Consult revealed the following:

HAS A RETIREMENT

SAVINGS ACCOUNT

AGE GROUP Yes No

____________________________________

Millennials 579 628

Gen X 599 532

____________________________________

(Source: Data extracted from "Millennials are delusional about the future, but they aren't the only ones," bit.ly/2KDeDK9)

4. If an American adult is selected at random, what is the probability that

a. the American adult has no retirement savings account?

b. the American adult is a Gen X who has no retirement savings account?

5. If an American adult is selected at random, what is the probability that

a. the American adult is a Gen X or has no retirement savings account?

b. Explain the difference in the results in questions 4b and 5a.