Suppose that the following table represents a sample of 944 teenagers? responses to the question, ?When do you think you will become financially independent???

Consider the experiment of randomly selecting a teenager from the population of teenagers aged 14 to 18.?

a. Compute the probability of being financially independent for each of the four age categories.?

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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Age of Financially Independent Number of Responses 16 to 20 191 21 to 24 467 25 to 27 244 28 or older 42