The following table summarizes the ages of the 400 richest Americans. Suppose we select one of these individuals. Find the probability that the selected individual is at least 60 years old. 
Definitions:
Phillips Curve Analysis
An economic concept that analyzes the inverse relationship between rates of unemployment and corresponding rates of inflation.
Natural Rate
The natural rate often refers to the natural rate of unemployment, which is the level of unemployment consistent with sustainable economic growth, without accelerating inflation.
Inflationary Expectations
The anticipations of consumers, businesses, and investors regarding the rate of inflation in the future.
Unexpected Change
A sudden and unforeseen event that can significantly impact individuals, organizations, or the economy.
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