A mutual fund company offers its customers a variety of funds: a money-market fu

Question

A mutual fund company offers its customers a variety of funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and high-risk), and balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows. Money-market Short bond Intermediate bond Long bond 25% 11% 8% 5% High-risk stock Moderate-risk stock 16% 25% Balanced 10% A customer who owns shares in just one fund is randomly selected. (c) What is the probability that the selected individual does not own shares in a stock fund? 76

Explanation / Answer

Stock funds are moderate and high risk. i.e they have probability of 16+25 i.e 41%

thus probability it doesnt not own this fund is 1-0.41 or 0.59

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