Question

4.19. A study by Peter D. Hart Research Associates for the Nasdaq Stock Market revealed that 43% of all American adults are stockholders. In addition, the study determined that 75% of all American adult stockholders have some college education. Suppose 37% of all American adults have some college education. An American adult is randomly selected. a. What is the probability that the adult owns stock and has some college education

Answer 1

Answer:

P (S∩E)  = 0.1591

Step-by-step explanation:

Let the stockholders be donated by S then the P (s)= 0.43

Let the stockholders having some degree be donated by D then the P (d)= 0.75

Let the American having some college degree be donated by E then the

P (E)= 0.37

As the events are independent their joint probability can be found by multiplying the individual probabilities

P (S∩E)  = P(s) . P (E)= 0.43 * 0.37= 0.1591