Consider the following to answer the question(s) below:
The following table represents information about investments of 200 randomly selected residents of Etobicoke.

-The probability that a client is holding mutual funds given that he/she is age 50 or younger is
A) 0.316.
B) 0.461.
C) 0.857.
D) 0.15.
E) 0.475.

Question

Consider the following to answer the question(s) below:
The following table represents information about investments of 200 randomly selected residents of Etobicoke.
 
-The probability that a client is holding mutual funds given that he/she is age 50 or younger is
A) 0.316. 
B) 0.461. 
C) 0.857. 
D) 0.15. 
E) 0.475.

Quizplus · Accepted Answer

The probability that a client is holding mutual funds given that he/she is age 50 or younger is 0.316. This is because the probability of holding mutual funds is 0.461, and the probability of being age 50 or younger is 0.685. Therefore, the probability of holding mutual funds given that he/she is age 50 or younger is 0.461 * 0.685 = 0.316.

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