A mutual fund company offers its customers a variety offunds: a money-market fund, three
Chapter 2, Problem 11(choose chapter or problem)
A mutual fund company offers its customers a variety offunds: a money-market fund, three different bond funds(short, intermediate, and long-term), two stock funds (moderateand high-risk), and a balanced fund. Among customerswho own shares in just one fund, the percentages of customersin the different funds are as follows:Money-market 20% High-risk stock 18%Short bond 15% Moderate-riskstock 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 individual ownsshares in the balanced fund?b. What is the probability that the individual owns shares ina bond fund?c. What is the probability that the selected individual doesnot own shares in a stock fund?
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