Concept explainers
Junior Achievement USA and the Allstate Foundation surveyed teenagers aged 14 to 18 and asked at what age they think they will become financially independent. The responses of 944 teenagers who answered this survey question are as follows
Consider the experiment of randomly selecting a teenager from the population of teenagers aged 14 to 18.
a.Compute the
b.What is the probability of being financially independent before the age of 25?
c.What is the probability of being financially independent after the age of 24?
d.Do the probabilities suggest that the teenagers may be somewhat unrealistic in their expectations about when they will become financially independent?
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Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
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