Homework SourseA financial consultant has classified his clients according
A financial consultant has classified his clients according to their gender and the composition of their investment portfolio (primarily bonds, primarily stocks, or a balanced mix of bonds and stocks). The proportions of clients falling into the various categories are shown in the following table:
What is the probability of being above 40?
| age | bonds | stocks | balanced |
| above 40 | 0.1 | 0.15 | 0.1 |
| below 40 | 0.15 | 0.25 | 0.25 |
Solution
THE PROBABILITY OF BEING ABOVE 40 WILL BE = ADDING THE PROBABILITY OF ABOVE 40 ALL THE PROTFOLIO
THAT IS 0.10+0.15+0.10= 0.35
