An investment-newsletter writer wanted to know in which investment areas her sub
ID: 3045651 • Letter: A
Question
An investment-newsletter writer wanted to know in which investment areas her subscribers were most interested. A survey was sent to 331 randomly selected professional clients, with the following results 2. Business Stocks Bonds CD'S Commodities Options Doctors 30 29 Bankers50 21 25 34 35 14 0 15 12 29 10 2 0 5 Lawyers 5 10 Others a. What is the probability that an investment client is a doctor? (Three Points) If an investment client's main investment interest is commodities, what is the probability the he or she is a banker? b. (Four Points) What is the probability than an investment client's main interest is not in options? c. (Three Points)Explanation / Answer
Solution:-
a) The probability that a investment clinet is a doctor = 0.2175.
Total number of clinets = 331
Number of clinets those are doctors = 72
The probability that a investment clinet is a doctor = 72/331 = 0.2175
b) If invetsment clients main invetsment ineterst is commodities, then the probability that he ore she is a banker is 0.50.
Number of clients those have interest in comodities = 10
Number of clients those have interest in comodities and are bankers = 5
If invetsment clients main invetsment ineterst is commodities, then the probability that he ore she is a banker = 5/10 = 0.50
c) The probability that investment client's main interest is not in options = 0.9486
Number of investment client's whose main interest is not in options = 331 - 17 = 314
Total number of clinets = 331
The probability that investment client's main interest is not in options = 314/331 = 0.9486
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