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A survey of 200 college graduates who have been working for atleast

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A survey of 200 college graduates who have been working
for atleast 3 years found that 90 owned only mutual funds,
20 owned only stocks, and 70 owned both.
a. What is the probability that an individual owns stock? A
mutual fund?
b. What is the probability that an individual owns neither
stock nor mutual funds?
c. What is the probability that an individual owns either a
stock or a mutual fund?
Solution
Total college graduates who own either a stock or a mutual
fund =college graduates who own only stock+college
graduates who own only mutual fund+college graduates
who own both
Total college graduates who own either a stock or a mutual
fund =90+20+70=180
Total college graduates who own neither stock nor mutual
funds=200-180=20
Total college graduates who own a stock =college
graduates who own only stock+college graduates who own
both= 20+70=90
Total college graduates who own a mutual fund=college

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A survey of 200 college graduates who have been working for atleast 3 years found that 90 owned only mutual funds, 20 owned only stocks, and 70 owned both. a. What is the probability that an individual owns stock? A mutual fund? b. What is the probability that an individual owns neither stock nor mutual funds? c. What is the probability that an individual owns either a stock or a mutual fund? Solution Total college graduates who own either a stock or a mutual fund =college graduates who own only stock+college graduates who own only mutual fund+college graduates who own both Total college gra ...
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