Let's say 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, answer the following questions accordingly. Let X represent the number of startups that generate a profit in the first year in the given sample. a. What kind of distribution does X follow? It follows a symmetrical distribution b. Justify that X follows this distribution. Give me all the reasons why it follows that distributions. c. Compute the probability that exactly 7 startups will generate a profit next year.

Let's say 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, answer the following questions accordingly. Let X represent the number of startups that generate a profit in the first year in the given sample. a. What kind of distribution does X follow? It follows a symmetrical distribution b. Justify that X follows this distribution. Give me all the reasons why it follows that distributions. c. Compute the probability that exactly 7 startups will generate a profit next year.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

Hello, im in a statistics for business class this year and am still having trouble learning how to calculate probability for specific events like this one in my homework which is attatched.

Let's say 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, answer the following questions accordingly.
Let X represent the number of startups that generate a profit in the first year in the given sample.
a. What kind of distribution does X follow?
It follows a symmetrical distribution b. Justify that X follows this distribution. Give me all the reasons why it follows that distributions.
c. Compute the probability that exactly 7 startups will generate a profit next year.

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