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An article summarized data from a survey of a random sample of a certain number of U.S. adults with investments of $10,000 or more. Based on the survey data, it was estimated that 33% of investors manage their investments by doing everything they possibly can online. But the authors of the article also noted that there was a quite a difference between younger investors (ages 18 to 49) and older investors (ages 50 and older). For younger investors, 63% said they do everything they possibly can online, while the percentage for older investors was 13%. (a) Use the given information to estimate P(0), P(O|Y), and P(O|F) where O - event that a randomly selected investor does everything possible online, Y = event that a randomly selected investor is age 18 to 49, and F = event that a randomly selected investor is 50 years old or older. P(0) = 33 P(O)Y) = 63 P(OIF) 13 (b) Suppose that 40% of investors are between the ages of 18 and 49. Use the probabilities from part (a) and the estimate P(Y) = 0.40 to construct a hypothetical 1,000 table. Y Total Not O Total 400 600 1,000 Use information in the table to calculate P(Y|0). (Round your answer to three decimal places.) Which of the following sentences properly interprets this value in the context of this exercise? The probability, given that a randomly selected investor does everything possible online, that the investor is age 50 or older is P(YIO). The probability, given that a randomly selected investor is age 18 to 49, that the investor does everything possible online is P(YIO0). The probability, given that a randomly selected investor does everything possible online, that the investor is age 18 to 49 is P(Y0). The probability, given that a randomly selected investor is age 50 or older, that the investor does everything possible online is P(Y|0). The probability that the selected investor is age 18 to 49 is P(Y|0).

An article summarized data from a survey of a random sample of a certain number of U.S. adults with investments of $10,000 or more. Based on the survey data, it was estimated that 33% of investors manage their investments by doing everything they possibly can online. But the authors of the article also noted that there was a quite a difference between younger investors (ages 18 to 49) and older investors (ages 50 and older). For younger investors, 63% said they do everything they possibly can online, while the percentage for older investors was 13%. (a) Use the given information to estimate P(0), P(O|Y), and P(O|F) where O - event that a randomly selected investor does everything possible online, Y = event that a randomly selected investor is age 18 to 49, and F = event that a randomly selected investor is 50 years old or older. P(0) = 33 P(O)Y) = 63 P(OIF) 13 (b) Suppose that 40% of investors are between the ages of 18 and 49. Use the probabilities from part (a) and the estimate P(Y) = 0.40 to construct a hypothetical 1,000 table. Y Total Not O Total 400 600 1,000 Use information in the table to calculate P(Y|0). (Round your answer to three decimal places.) Which of the following sentences properly interprets this value in the context of this exercise? The probability, given that a randomly selected investor does everything possible online, that the investor is age 50 or older is P(YIO). The probability, given that a randomly selected investor is age 18 to 49, that the investor does everything possible online is P(YIO0). The probability, given that a randomly selected investor does everything possible online, that the investor is age 18 to 49 is P(Y0). The probability, given that a randomly selected investor is age 50 or older, that the investor does everything possible online is P(Y|0). The probability that the selected investor is age 18 to 49 is P(Y|0).

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.EA: Extended Application Using Extrapolation To Predict Life Expectancy
Problem 7EA
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An article summarized data from a survey of a random sample of a certain number of U.S. adults with investments of $10,000 or more. Based on the survey data, it was estimated that 33% of investors manage their investments by doing everything they possibly can online. But the authors of the article also noted that there was a quite a difference between younger investors (ages 18 to 49) and older investors (ages 50 and older). For younger investors, 63% said they do everything they possibly can online, while the percentage for older investors was 13%. (a) Use the given information to estimate P(0), P(O|Y), and P(OIF) where O - event that a randomly selected investor does everything possible online, Y = event that a randomly selected investor is age 18 to 49, and F = event that a randomly selected investor is 50 years old or older. P(0) = 33 P(O)Y) = 63 P(OIF) 13 (b) Suppose that 40% of investors are between the ages of 18 and 49. Use the probabilities from part (a) and the estimate P(Y) = 0.40 to construct a hypothetical 1,000 table. Y Total Not O Total 400 600 1,000 Use information in the table to calculate P(Y|0). (Round your answer to three decimal places.) Which of the following sentences properly interprets this value in the context of this exercise? The probability, given that a randomly selected investor does everything possible online, that the investor is age 50 or older is P(YIO). The probability, given that a randomly selected investor is age 18 to 49, that the investor does everything possible online is P(YI0). The probability, given that a randomly selected investor does everything possible online, that the investor is age 18 to 49 is P(Y0). The probability, given that a randomly selected investor is age 50 or older, that the investor does everything possible online is P(Y|0). The probability that the selected investor is age 18 to 49 is P(Y|0).
Transcribed Image Text:An article summarized data from a survey of a random sample of a certain number of U.S. adults with investments of $10,000 or more. Based on the survey data, it was estimated that 33% of investors manage their investments by doing everything they possibly can online. But the authors of the article also noted that there was a quite a difference between younger investors (ages 18 to 49) and older investors (ages 50 and older). For younger investors, 63% said they do everything they possibly can online, while the percentage for older investors was 13%. (a) Use the given information to estimate P(0), P(O|Y), and P(OIF) where O - event that a randomly selected investor does everything possible online, Y = event that a randomly selected investor is age 18 to 49, and F = event that a randomly selected investor is 50 years old or older. P(0) = 33 P(O)Y) = 63 P(OIF) 13 (b) Suppose that 40% of investors are between the ages of 18 and 49. Use the probabilities from part (a) and the estimate P(Y) = 0.40 to construct a hypothetical 1,000 table. Y Total Not O Total 400 600 1,000 Use information in the table to calculate P(Y|0). (Round your answer to three decimal places.) Which of the following sentences properly interprets this value in the context of this exercise? The probability, given that a randomly selected investor does everything possible online, that the investor is age 50 or older is P(YIO). The probability, given that a randomly selected investor is age 18 to 49, that the investor does everything possible online is P(YI0). The probability, given that a randomly selected investor does everything possible online, that the investor is age 18 to 49 is P(Y0). The probability, given that a randomly selected investor is age 50 or older, that the investor does everything possible online is P(Y|0). The probability that the selected investor is age 18 to 49 is P(Y|0).
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