401 K INVESTORS According to a study conducted in 2011 conce

401 (K) INVESTORS According to a study conducted in 2011 concerning the participation, by age, of 401(k) investors, the following data were obtained: 40s 50s 60s 30s 23 20s Age Percent 12 28 27 10 a. What is the probability that a 401(k) investor selected at random in 2011 was in his or her 20s or 60s? b. What is the probability that a 401(k) investor selected at random in 2011 was under the age of 50?

Solution

total no. of candidates = 12+23+28+27+10=100

a)total candidates in 20s and 60s =12+10= 22

prob = 0.22

b) under 50 = 12+23+28= 63

prob = 0.63