A study in 2009 found that 60 of us workers between ages of

Reference no: EM13471655

1. A study in 2009 found that 60% of US workers between ages of 20-29 cash out their 401(k) retirement accounts when they lose their jobs or move to a new employer. Answer the following questions based on a random sample of 14 US workers between 20-29 who lost their jobs or change employers:

a. What is the probability that exactly 5 workers cased out their retirement account?

b. What is the probability that exactly 12 workers cashed out their retirement accounts?

c. What is the probability that exactly 12 workers did not cash out their retirement accounts?

What are the mean and standard deviation for this distribution (people that cashed out their retirement accounts)?

Reference no: EM13471655

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