03:31
Probability with Applications in Engineering, Science, and Technology
A mutual fund company offers its customers several different funds: a money-market fund, three different bond funds (short, intermediate, and long-term), two stock funds (moderate and, high-risk), and a balanced fund. Among customers who own shares in just one fund, the percentages of customers in the different funds are as follows:
$$\begin{array}{llll}{\text { Money-market }} & {20 \%} & {\text { High-risk stock }} & {18 \%} \\ {\text { Short bond }} & {15 \%} & {\text { Moderate-risk stock }} & {25 \%} \\ {\text { Intermediate bond }} & {10 \%} & {\text { Balanced }} \\ {\text { Long bond }} & {5 \%}\end{array}$$
A customer who owns shares in just one fund is randomly selected.
(a) What is the probability that the selected individual owns shares in the balanced fund?
(b) What is the probability that the individual owns shares in a bond fund?
(c) What is the probability that the selected individual does not own shares in a stock fund?