JUST ANSWERS PLEASE. A finance journal published a study of whether the decision
ID: 3178996 • Letter: J
Question
JUST ANSWERS PLEASE.
A finance journal published a study of whether the decision to invest in the stock market is dependent on IQ. Information on a sample of 153,647 adults living in Finland formed the database for the study. An IQ score (from a low score of 1 to a high score of 9) was determined for each Finnish citizen as well as whether or not the citizen invested in the stock market. The following table gives the number of Finnish citizens in each IQ score/investment category. Suppose one of the 153,647 citizens is selected at random. Complete parts a through f.
a. What is the probability that the Finnish citizen invests in the stock market?
The probability is ________.. (Round to the nearest thousandth as needed.)
b. What is the probability that the Finnish citizen has an IQ score of 6 or higher?
The probability is ________. (Round to the nearest thousandth as needed.)
c. What is the probability that the Finnish citizen invests in the stock market and has an IQ score of 6 or higher?
The probability is ________.. (Round to the nearest thousandth as needed.)
d. What is the probability that the Finnish citizen invests in the stock market or has an IQ score of 6 or higher?
The probability is ________.. (Round to the nearest thousandth as needed.)
e. What is the probability that the Finnish citizen does not invest in the stock market?
The probability is ________.. (Round to the nearest thousandth as needed.)
f. Are the events {Invest in the stock market} and {IQ score of 1} mutually exclusive? Choose A,B,C or D
A. Yes, they are mutually exclusive because there are no Finnish citizens who invest in the stock market and have an IQ score of 1.
B. Yes, they are mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.
C. No, they are not mutually exclusive because the probability that a Finnish citizen invests in the stock market and has an IQ score of 1 is very small.
D. No, they are not mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.
IQ_Score Invest_in_Market No_Investment Totals 1 809 4639 5448 2 1307 8282 9589 3 2060 9407 11467 4 5232 19430 24662 5 8176 24158 32334 6 10012 21161 31173 7 6501 11290 17791 8 5050 6706 11756 9 4364 5063 9427 Totals 43511 110136 153647Explanation / Answer
a) probability that the Finnish citizen invests in the stock market=43511/153647=0.283
b)probability that the Finnish citizen has an IQ score of 6 or higher=(31173+17791+11756+9427)/153647=0.457
c)probability that the Finnish citizen invests in the stock market and has an IQ score of 6 or higher
=(10012+6501+5050+4364)/153647=0.596
d)probability that the Finnish citizen invests in the stock market or has an IQ score of 6 or higher
=(43511+21161+11290+6706+5063)/153647=0.571
e)probability that the Finnish citizen does not invest in the stock market=110136/153647=0.717
f(
D. No, they are not mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.
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