The survey about the investment habits of local citizens is given in contingency table: Age Stocks [S] Bonds [B] Savings Accounts [A] Totals 18-29 [Y] 6 2 15 23 30-49 [M] 14 5 14 33 50 or over [O] 32 20 12 64 Totals =52 =27 =41 =120 What is the probability of the number of citizens holding either stocks or bonds

 

Q#

The survey about the investment habits of local citizens is given in contingency table:

 

Age                             Stocks [S]       Bonds [B]       Savings Accounts [A]            Totals

18-29 [Y]                    6                      2                      15                                            23

30-49 [M]                    14                    5                      14                                            33

50 or over [O]            32                    20                    12                                            64

Totals                          =52                  =27                  =41                                          =120

 

 

What is the probability of the number of citizens holding either stocks or bonds        

SOLUTION

Number of citizens holding stocks = n (S) = 52

Number of citizens holding Bonds = n(B) = 27                                                  

   n (B U S) = 79

total citizens = n (T) = 120

Probability of the number of citizens holding either stocks or bonds = P (B U S)

                                                    = 79/120

                                                    = 0.658

                                                    = 56.8%   Answer

 

 

What is the probability of citizens holding either bonds or savings accounts in the age group of 18-29?                                                                                             

SOLUTIOn                 

    n (A U B Ռ Y) = 17

Probability of citizens holding either bonds or savings accounts = P (A)

                             P(A ) = 17/23

                                      = 0.739

                                      = 73.9%