numbers 20, 21 20. Age of Financial Independence. Suppose that the following table represents a sampleof 944 teenagers’ responses to the question, “When do you think you will becomefinancially independent?"Age ofFinanciallyIndependentNumber ofResponses16 to 2019121 to 2446725 to 2724428 or older42Consider the experiment of randomly selecting a teenager from the population ofteenagers aged 14 to 18.a. Compute the probability of being financially independent for each of the fourage categories.b. What is the probability of being financially independent before the age of 25? c. What is the probability of being financially independent after the age of 24?d. Do the probabilities suggest that the teenagers may be somewhat unrealistic intheir expectations about when they will become financially independent?21. Fatal Collisions with a Fixed Object. The National Highway Traffic SafetyAdministration (NHTSA) collects traffic safety-related data for the U.S. Department ofTransportation. According to NHTSA’s data, 10,426 fatal collisions in 2016 were theresult of collisions with fixed objects (NHTSA website, https://www.careforcrashvictims.com/wp-content/uploads/2018/07/Traffic-Safety-Facts-2016_-Motor-Vehicle-Crash-Data-from-the-Fatality-Analysis-Reporting-System-FARS-and-the-General-Estimates-System-GES.pdf). The following table provides more information on these collisions.Fixed Object Involved in CollisionNumber of CollisionsPole/postCulvert/curb/ditch1,4162,5162,585896Shrubbery/treeGuardrailEmbankment947BridgeOther/unknown2311,835Assume that a collision will be randomly chosen from this population.a. What is the probability of a fatal collision with a pole or post?b. What is the probability of a fatal collision with a guardrail?c. What type of fixed object is least likely to be involved in a fatal collision? Whatis the probability associated with this type of fatal collision?d. What type of object is most likely to be involved in a fatal collision? What is theprobability associated with this type of fatal collision?

Name: numbers 20, 21 20. Age of Financial Independence. Suppose that the fol
Uploaded: 2024-03-05T11:52:21.000Z
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Description: numbers 20, 21 20. Age of Financial Independence. Suppose that the following table represents a sampleof 944 teenagers’ responses to the question, “When do you think you will becomefinancially independent?"Age ofFinanciallyIndependentNumber ofRespons