Many of us that are getting ready for retirement rely heavily on the stock market for their retirement income and have been very worried about the recent swings in the market. A survey of 998 individuals between 55 and 65 were asked how often they track the stock market. The table shows investor responses.

How frequently? Response

Daily 237

Weekly 278

Monthly 293

Couple times a year 139

Don't track 51

a. What is the probability that an individual in this age category tracks his or her portfolio daily? Express your answer as a simplified fraction and as a decimal rounded to 3 decimal places.

b. Is this an example of empirical, classical or subjective method of interpreting probabilities?