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The employee benefit research institute reports that 69 of


Question: The Employee Benefit Research Institute reports that 69% of workers reported that they and/or their spouse had saved some money for retirement.

a. If a random sample of 30 workers is taken, what is the probability that fewer than 17 workers and/ or their spouses have saved some money for retirement?

b. If a random sample of 50 workers is taken, what is the probability that more than 40 workers and/ or their spouses have saved some money for retirement?

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Basic Statistics: The employee benefit research institute reports that 69 of
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