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The following table is used for a number of questions below. The table above shows the...

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Question

Basic Math

The following table is used for a number of questions below. Thetable above shows the responses of a survey of teenagers aged 14-18when asked at what age they thought they would become financiallyindependent.

Age of Financial Independence

Number of Responses

16-20

191

21-24

467

25-27

244

28 or older

42

  1. What do the teens expect is the probability of beingfinancially independent before age 25?
  2. A recent Gallup poll found that only 14 percent of 24- to34-year-olds are financially independent. Do teens have realisticexpectations?

Answer & Explanation Solved by verified expert
3.6 Ratings (650 Votes)
PART1 We know that probability is defined as the ratio of favourable outcome to the total outcome In this case total outcome sum of all responses 19146724442 944 We have to find the    See Answer
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