A recent survey show that 80% of all business startups in the IT industry report that they generate a profit in their first year. If a sample of 10 new IT business startups is selected, find the probability that exactly seven will generate a profit in their first year. a. 0.312 0.321 0.213 0.2013

A recent survey show that 80% of all business startups in the IT industry report that they generate a profit in their first year. If a sample of 10 new IT business startups is selected, find the probability that exactly seven will generate a profit in their first year. a. 0.312 0.321 0.213 0.2013

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

A recent survey show that 80% of all business startups in the IT industry report that they generate a profit in their first year.
If a sample of 10 new IT business startups is selected, find the probability that exactly seven will generate a profit in their first year.
a. 0.312
0.321
0.213
0.2013

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