A finance journal published a study of whether the decision to invest in the stock market...
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 154,716 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 154,716 citizens are selected at random. Complete parts a through f.
IQ Score. Invest in Market. No Investment. Totals
1. 848. 4,667. 5,515
2 1,394 8,557 9,951
3 2,075 9,121 11,196
4 5,346 19,159 24,505
5 8,005 24,520 32,525
6. 10,253 21,648 31,901
7 6,863 10,827 17,690
8 5,000 7,491 12,491
9 4,259 4,683 8,942
Totals. 44,043 110,673 154,716
_______________________________________________________________
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?
A. Yes, they are mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.
B.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.
C.No, they are not mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.
D. Yes, they are mutually exclusive because there are no Finnish citizens who invest in the stock market and have an IQ score of 1.
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A finance journal published a study of whether the decision to
invest in the stock market...
A finance journal published a study of whether the decision to invest in the stock market...
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 155,833 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...
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