Question
In: Math
Investment advisors agree that near-retirees, defined as people aged 55 to 65, should have balanced portfolios....
Investment advisors agree that near-retirees, defined as people aged 55 to 65, should have balanced portfolios. Most advisors suggest that the near-retirees have no more than 50% of their investments in stocks. However, during the huge decline in the stock market in 2008, 23% of near-retirees had 85% or more of their investments in stocks. Suppose you have a random sample of 10 people who would have been labeled as near-retirees in 2008. Complete parts (a) through (d) below.
a. What is the probability that during 2008 none had 85% or more of their investment in stocks? The probability is . (Round to four decimal places as needed.)
b. What is the probability that during 2008 exactly one had 85% or more of his or her investment in stocks? The probability is . (Round to four decimal places as needed.)
c. What is the probability that during 2008 two or fewer had 85% or more of their investment in stocks? The probability is . (Round to four decimal places as needed.)
d. What is the probability that during 2008 three or more had 85% or more of their investment in stocks? The probability is . (Round to four decimal places as needed.)
Solutions
milcah answered 9 months agoRelated Solutions
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