An IBD/TIPP poll conducted to learn about attitudes toward investment and retirement (Investors Business Daily, May 5, 2000) asked male and female respondents how important they felt level of risk was in choosing a retirement investment. The following joint probability table was constructed from the data provided. Important means the respondent said level of risk was either important or very important. Category Male Female Total Important 0.22 0.27 0.49 Not Important 0.28 0.23 0.51 Total 0.5 0.5 1.00 .
(a) What is the probability a survey respondent will say level of risk is important?
(b) What is the probability a male respondent will say level of risk is important? 2
(c) What is the probability a female respondent will say level of risk is important?
(d) Is the level of risk independent of the gender of the respondent? Why or why not?
(e) Do male and female attitudes toward risk differ?