Posted by **A** on Saturday, November 17, 2007 at 3:43pm.

Parents may help to save for their children’s university education using Registered Education Savings Plans (RESPs). Under the Canada Education Savings Grant Program, the government matches 20% of the parent’s contributions to an RESP (to an annual maximum). In addition, the income earned within an RESP is not taxed (the tax liability is deferred until the money is used for post-secondary eduation).

In 2000, 7.2% of taxpayers with children under the age of 19 contributed to an RESP.

An elementary school has 16 classrooms, each with 1 teacher and 20 students. During Parent-Teacher Interviews, each teacher asks the parents of the students in his or her class if they are contributing to an RESP for their son or daughter.

(a) What is the expected number of parents who contribute (for a given class).

(b) What is the probability that more than half of parents are contributing in a given

class?

(c) What is the probability that 1/4 of the classes report more than 3 parents contributing?

- Math -
**Michael**, Saturday, November 17, 2007 at 3:48pm
(a) 7.2% = .072

.072 * 20 = 1.44, or 1 parent

(I don't know if we should account for two parents per student, in which case it would be 2.88, or 2 parents.)

I don't know about (b) or (c).

- Math -
**Anonymous**, Friday, September 5, 2008 at 11:23pm
5+6

## Answer This Question

## Related Questions

- Math - Parents may help to save for their children’s university education ...
- math - the fany budget is: food $450, housing $300, insurance $122, personal $80...
- math - Enrique’s parents want to save for his education. On his 12th birthday, ...
- childcare - The major goal of parent education is to A improve parenting skill B...
- arithmetic - Amelia's parents and grand parents have both opened savings ...
- Math - A Registered Education Savings Plan (RESP) earns interest at a rate of 5...
- math (pls help) - Amelia's parents and grand parents have both opened savings ...
- english - Education in financial planning teaches (simple present tense) me how ...
- algebra - Amelia's parents and grand parents have both opened savings accounts ...
- Education - Can you explain why teachers who wish to promote a developmentally ...

More Related Questions