An experiment was conducted to study how investors selected mutual funds. Two groups of investors were selected. Group 1 consisted of investors that used online brokerages and Group 2 was made up of investors that used full-service brokerages. Of the 300 investors in Group 1, 246 indicated that they selected mutual funds on their own, while 54 stated that they selected mutual funds using recommendations of the brokerage, family, and friends. Of the 150 investors in Group 2, 21 indicated that they selected their funds on their own, while 129 indicated that they selected the mutual funds using recommendations of the brokerage, family, and friends. Step 1 of 2: What proportion of Group 1 investors selected mutual funds on their own? Round your answer to three decimal places if necessary.
An experiment was conducted to study how investors selected mutual funds. Two groups of investors were selected. Group 1 consisted of investors that used online brokerages and Group 2 was made up of investors that used full-service brokerages. Of the 300 investors in Group 1, 246 indicated that they selected mutual funds on their own, while 54 stated that they selected mutual funds using recommendations of the brokerage, family, and friends. Of the 150 investors in Group 2, 21 indicated that they selected their funds on their own, while 129 indicated that they selected the mutual funds using recommendations of the brokerage, family, and friends. Step 1 of 2: What proportion of Group 1 investors selected mutual funds on their own? Round your answer to three decimal places if necessary.
Chapter7: Uncertainty
Section: Chapter Questions
Problem 7.15P
Related questions
Question
Transcribed Image Text:An experiment was conducted to study how investors selected mutual funds. Two groups of investors were selected. Group 1 consisted of investors that used online
brokerages and Group 2 was made up of investors that used full-service brokerages. Of the 300 investors in Group 1, 246 indicated that they selected mutual funds on
their own, while 54 stated that they selected mutual funds using recommendations of the brokerage, family, and friends. Of the 150 investors in Group 2, 21 indicated
that they selected their funds on their own, while 129 indicated that they selected the mutual funds using recommendations of the brokerage, family, and friends.
Step 1 of 2: What proportion of Group 1 investors selected mutual funds on their own? Round your answer to three decimal places if necessary.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
