Financial experts say retirement accounts are one of the best tools for saving and investing for the future. Are millennials and Gen Xers financially prepared for th future? A survey of adults in a particular country conducted by INSIDER and Morning Consult revealed the results in the accompanying table. Complete parts (a) through (d) below. E Click the icon to view the table. a. Given that the adult has a retirement savings account, what is the probability that the adult is a millennial? |(Round to four decimal places as needed.) b. Given that the adult is a millennial, what is the probability that the adult has a retirement savings account? Data Table (Round to four decimal places as needed.) c. Explain the difference in the results in (a) and (b). HAS A RETIREMENT SAVINGS ACCOUNT O A. Part (a) is a conditional probability while part (b) is a general probability. AGE GROUP Yes No O B. The numerator and denominator of the probability is reversed. Millennials 574 629 Gen Xer 606 533 O C. The conditional events are reversed. O D. There is no difference in the results in (a) and (b). Print Done d. Are having a retirement savings account and age group independent? O A. No, because P(millennial|has a retirement savings account) # P(millennial). O B. Yes. because P(millenniallhas a retirement savinas account) # P(millennial).
Financial experts say retirement accounts are one of the best tools for saving and investing for the future. Are millennials and Gen Xers financially prepared for th future? A survey of adults in a particular country conducted by INSIDER and Morning Consult revealed the results in the accompanying table. Complete parts (a) through (d) below. E Click the icon to view the table. a. Given that the adult has a retirement savings account, what is the probability that the adult is a millennial? |(Round to four decimal places as needed.) b. Given that the adult is a millennial, what is the probability that the adult has a retirement savings account? Data Table (Round to four decimal places as needed.) c. Explain the difference in the results in (a) and (b). HAS A RETIREMENT SAVINGS ACCOUNT O A. Part (a) is a conditional probability while part (b) is a general probability. AGE GROUP Yes No O B. The numerator and denominator of the probability is reversed. Millennials 574 629 Gen Xer 606 533 O C. The conditional events are reversed. O D. There is no difference in the results in (a) and (b). Print Done d. Are having a retirement savings account and age group independent? O A. No, because P(millennial|has a retirement savings account) # P(millennial). O B. Yes. because P(millenniallhas a retirement savinas account) # P(millennial).
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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Transcribed Image Text:Financial experts say retirement accounts are one of the best tools for saving and investing for the future. Are millennials and Gen Xers financially prepared for the
future? A survey of adults in a particular country conducted by INSIDER and Morning Consult revealed the results in the accompanying table. Complete parts (a)
through (d) below.
Click the icon to view the table.
a. Given that the adult has a retirement savings account, what is the probability that the adult is a millennial?
(Round to four decimal places as needed.)
b. Given that the adult is a millennial, what is the probability that the adult has a retirement savings account?
Data Table
(Round to four decimal places as needed.)
c. Explain the difference in the results in (a) and (b).
HAS A RETIREMENT
SAVINGS ACCOUNT
A. Part (a) is a conditional probability while part (b) is a general probability.
AGE GROUP
Yes
No
B. The numerator and denominator of the probability is reversed.
Millennials
574
629
Gen Xer
606
533
C. The conditional events are reversed.
D. There is no difference in the results in (a) and (b).
Print
Done
d. Are having a retirement savings account and age group independent?
A. No, because P(millennial|has a retirement savings account) + P(millennial).
O B. Yes. because P(millenniallhas a retirement savinas account)# P(millennial).
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