A mutual fund company offers its customers a varietyof
Chapter 2, Problem 11(choose chapter or problem)
A mutual fund company offers its customers a varietyof funds: a money-market fund, three different bondfunds (short, intermediate, and long-term), two stockfunds (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 areas follows:Money-market 20% High-risk stock 18%Short bond 15% Moderate-risk stock 25%Intermediate Balanced 7% bond 10%Long bond 5%A customer who owns shares in just one fund is randomlyselected.a. What is the probability that the selected individualowns shares in the balanced fund?b. What is the probability that the individual ownsshares in a bond fund?c. What is the probability that the selected individualdoes not own shares in a stock fund?
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