Answer Happy

Investment advisors agree that near-retirees, defined as people aged 55 to 65, should have balanced portfolios Most advisors suggest that the near-retirees have no more than 50% of their investments in stocks. However, during the huge decline in the stock market in 2008, 26% of near-retirees had 85% or more of their investments in stocks Suppose you have a random sample of 10 people who would have been labeled as near-retirees in 2008. Complete parts (a) through (d) below CH a. What is the probability that during 2008 none had 85% or more of their investment in stocks? The probability is (Round to four decimal places as needed)