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(a) What is the probability that the selected individual owns shares in the balanced fund? (b) What is the probability that the individual owns shares in a bond fund? (c) What is the probability that the selected individual does not own shares in a stock fund?

(a) What is the probability that the selected individual owns shares in the balanced fund? (b) What is the probability that the individual owns shares in a bond fund? (c) What is the probability that the selected individual does not own shares in a stock fund?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows. Money-market 21% High-risk stock 19% Short bond 14% Moderate-risk stock 25% Intermediate bond 5% Balanced 11% Long bond 5% A customer who owns shares in just one fund is randomly selected. (a) What is the probability that the selected individual owns shares in the balanced fund? (b) What is the probability that the individual owns shares in a bond fund? (c) What is the probability that the selected individual does not own shares in a stock fund? Need Help? Read It Watch It Master It
Transcribed Image Text:A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows. Money-market 21% High-risk stock 19% Short bond 14% Moderate-risk stock 25% Intermediate bond 5% Balanced 11% Long bond 5% A customer who owns shares in just one fund is randomly selected. (a) What is the probability that the selected individual owns shares in the balanced fund? (b) What is the probability that the individual owns shares in a bond fund? (c) What is the probability that the selected individual does not own shares in a stock fund? Need Help? Read It Watch It Master It
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