Question 2: The axioms and properties of probability_(A Certain fund company offers its customers a variety offunds. The percentages of customers in the different funds areas follows:High-risk stock 12%Moderate-risk stock 25%Intermediate bond 18%Long bond 8%Short bond 11%And the rest is the Balanced fund.a) What is the probability that a randomly selected individualowns shares in a bond fund? [db) What is the probability that the selected individual does notown shares in a stock fund?

P(that the individual owns share in high risk stock)=12100=0.12 P(that the individual owns share in…

Answered: a) What is the probability that a…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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a) What is the probability that a randomly selected individual owns shares in a bond fund? [ d b) What is the probability that the selected individual does not own shares in a stock fund?