# Question: In an article about investment alternatives Money magazine reported that

In an article about investment alternatives, Money magazine reported that drug stocks provide a potential for long-term growth, with over 50% of the adult population of the United States taking prescription drugs on a regular basis. For adults age 65 and older, 82% take prescription drugs regularly. For adults age 18 to 64, 49% take prescription drugs regularly.

The age 18-64 age group accounts for 83.5% of the adult population (Statistical Abstract of the United States, 2008).

a. What is the probability that a randomly selected adult is 65 or older?

b. Given an adult takes prescription drugs regularly, what is the probability that the adult is 65 or older?

The age 18-64 age group accounts for 83.5% of the adult population (Statistical Abstract of the United States, 2008).

a. What is the probability that a randomly selected adult is 65 or older?

b. Given an adult takes prescription drugs regularly, what is the probability that the adult is 65 or older?

**View Solution:**## Answer to relevant Questions

The Wall Street Journal/Harris Personal Finance poll asked 2082 adults if they owned a home (All Business website, January 23, 2008). A total of 1249 survey respondents answered Yes. Of the 450 respondents in the 18-34 age ...Simple random sampling uses a sample of size n from a population of size N to obtain data that can be used to make inferences about the characteristics of a population. Suppose that, from a population of 50 bank accounts, we ...Consider a binomial experiment with n = 20 and p = .70. a. Compute f (12). b. Compute f (16). c. Compute P(x 16). d. Compute P(x 15). e. Compute E(x). f. Compute Var(x) and σ. An average of 15 aircraft accidents occur each year (The World Almanac and Book of Facts, 2004). a. Compute the mean number of aircraft accidents per month. b. Compute the probability of no accidents during a month. c. ...The probability distribution for the random variable x follows. x f(x) 20 ......... .20 25 ......... .15 30 ......... .25 35 ......... .40 a. Is this probability distribution valid? Explain. b. What is the probability ...Post your question