In a study by Peter D. Hart Research Associates for the Nasdaq Stock Market, it was determined that 20% of all stock investors are retired people. In addition, 40% of all U.S. adults invest in mutual funds. Suppose a random sample of 25 stock investors is taken.

a.What is the probability that exactlysevenare retired people?

b.What is the probability that11or more are retired people?

c.How many retired people would you expect to find in a random sample of25stock investors?

d.Suppose a random sample of 20 U.S. adults is taken. What is the probability that exactlysixadults invested in mutual funds?

e.Suppose a random sample of 20 U.S. adults is taken. What is the probability that fewer thansixadults invested in mutual funds?

f.Suppose a random sample of 20 U.S. adults is taken. What is the probability thatexactly two adultsinvested in mutual funds?

g.Suppose a random sample of 20 U.S. adults is taken. What is the probability that13or more adults invested in mutual funds?

h.For parts eg, what exact number of adults would produce the highest probability? How does this compare to the expected number?Appendix A Statistical Tables

*(Round your answers to 3 decimal places when calculating usingTable A.2.)

**(Round your answer to 1 decimal places.)

***(Round your answer to 0 decimal places.)

a.P(x=7) =

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b.P(x11) =

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c.Expected Value =

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d.P(x=6) =

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e.P(x<6) =

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f.P(x=2) =

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g.P(x13) =

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h.x=

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Expected Number ==

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