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A mutual fund company offers its customers a variety of
Chapter 2, Problem 11E(choose chapter or problem)
A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows: A customer who owns shares in just one fund is randomly selected. a?. ?What is the probability that the selected individual owns shares in the balanced fund? b?. ?What is the probability that the individual owns shares in a bond fund? c?. ?What is the probability that the selected individual does not own shares in a stock fund?
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QUESTION:
A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows: A customer who owns shares in just one fund is randomly selected. a?. ?What is the probability that the selected individual owns shares in the balanced fund? b?. ?What is the probability that the individual owns shares in a bond fund? c?. ?What is the probability that the selected individual does not own shares in a stock fund?
ANSWER:Answer Step 1 of 4 In the given problem i have values 0.30’s,0.040’s,0.50’s,0.60’s and 0.75’ Her i am takin 0.3 high and low The low being 3L(0,1,2,3,4) The high being 3H(5,6,7,8,9)