Question

In: Statistics and Probability

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 156905 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 156905 citizens is selected at random. Complete parts a through f.

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? Choose A,B,C or D

A. ​Yes, they are mutually exclusive because there are no Finnish citizens who invest in the stock market and have an IQ score of 1.

B. ​Yes, they are mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.

C. ​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.

D. ​No, they are not mutually exclusive because there are Finnish citizens who invest in the stock market and have an IQ score of 1.

IQ_Score Invest_in_Market No_Investment Totals
1 831 4684 5515
2 1342 9380 10722
3 1939 9551 11490
4 5310 19847 25157
5 8120 24959 33079
6 10080 21044 31124
7 6612 10848 17460
8 5340 7362 12702
9

4575

 5081 9656
Totals 44149 112756 156905

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orchestra answered 2 years ago
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