Answer:
Probability that the person selected will be one who invests in municipal bonds but not in oil stocks is [tex]\frac{7}{25}[/tex]
Explanation:
Given : Total no of people in the group = 2500
Investors of municipal bonds = 35% i.e .35 × 2500 = 875
Investors of both municipal bonds and oil stocks
= 7% i.e .07 × 2500
= 175
Hence, the investors who have invested in municipal bonds but not oil stocks = 875 - 175 = 700 investors
Probability that the person being selected will be one who invests in municipal bonds but not in oil stocks = [tex]\frac{No.\ of\ investors\ of\ municipal\ bonds}{Total\ no\ of\ investors}[/tex]
= [tex]\frac{700}{2500}[/tex]
= [tex]\frac{7}{25}[/tex]
