Investing in the Stock Market. According to a 2017 Gallup survey, the percentage of individuals in the United States who are invested in the stock market by age is as shown in the following table...

Textbook: Essentials of statistics for business and economics, 9th edition

Chapter 5, problem 65SE (investing in the stock market).

Extracted text: Investing in the Stock Market. According to a 2017 Gallup survey, the percentage of individuals in the United States who are invested in the stock market by age is as shown in the following table (Gallup website). Percent of Individuals Invested in Stock Market Age Range 18 to 29 30 to 49 50 to 64 31 62 62 65+ 54 Suppose Gallup wishes to complete a follow-up survey to find out more about the specific type of stocks people in the United States are purchasing.


Extracted text: a. How many 18 to 29 year olds must be sampled to find at least 50 who invest in the stock market? b. How many people 65 years of age and older must be sampled to find at least 50 who invest in the stock market? c. If 1000 individuals are randomly sampled, what is the expected number of 18 to 29 year olds who invest in the stock market in this sample? What is the standard deviation of the number of 18 to 29 year olds who invest in the stock market? d. If 1000 individuals are randomly sampled, what is the expected number of those 65 and older who invest in the stock market in this sample? What is the standard deviation of the number of those 65 years of age and older who invest in the stock market?