Question

A national survey indicated that 30% of adults conduct their banking online. It also found that 40% are under the age of 50. and that 25% are under the age of 50 and conduct their banking online. Answer the following: What percentage of adults do not conduct their banking online? What type of probability is 25%? Construct a contingency table showing all joint and marginal probabilities. What is the probability that an individual conducts banking online given that the individual is under the age of 50?

Answer 1

Answer:

Step-by-step explanation:

Hello!

I'll express all the given percentages as probabilities:

Given the events:

Banking online (Bo)

Under the age of 50 (<50)

P(Bo)= 0.30

P(<50)= 0.40

P(Bo ∩ <50)= 0.25

1) What percentage of adults do not conduct their banking online?

The event "adults that do not conduct their baking online" is the complement of the event "adults that conduct their baking online" Symbolically $Bo^c$

P($Bo^c$)= 1 - P(Bo)= 1 - 0.30 = 0.70

2) What type of probability is 25%?

The probability P(Bo ∩ <50)= 0.25 is a joint probability, it indicates the intersection between both events.

3) Construct a contingency table showing all joint and marginal probabilities.

Check attachment.

4) What is the probability that an individual conducts banking online given that the individual is under the age of 50?

Symbolically:

P(Bo/<50)= P(Bo ∩ <50) = 0.25 = 0.625

                       P(<50)            0.40

I hope it helps!