The following excerpt is from an article in The New York Times in July 1999.T While statistics are not available for web entrepreneurs who fail, the venture capitalists that finance such Internet start-up companies have a rule of thumb. For every 10 ventures that receive financing-and there are plenty that do not-2 will be stock market successes, which means spectacular profits for early investors; 3 will be sold to other concerns, which translates into more modest profits; and the rest will fail. (a) What is a sample space for the scenario? O S = (2, 3, the rest} OS (Web entrepreneurs, Venture capitalists, Ventures} S = {Web entrepreneurs, Venture capitalists, Internet start-up companies) OS (10, 2, 3) ⒸS (Stock market success, Sold to other concerns, Fail} (b) Write down the associated probability distribution. Outcome first entry of S Probability 0.2 ✔ second entry of S 0.3 ✓ third entry of S 0.5 ✓ (c) What is the probability that a start-up venture that receives financing will realize profits for early investors?
The following excerpt is from an article in The New York Times in July 1999.T While statistics are not available for web entrepreneurs who fail, the venture capitalists that finance such Internet start-up companies have a rule of thumb. For every 10 ventures that receive financing-and there are plenty that do not-2 will be stock market successes, which means spectacular profits for early investors; 3 will be sold to other concerns, which translates into more modest profits; and the rest will fail. (a) What is a sample space for the scenario? O S = (2, 3, the rest} OS (Web entrepreneurs, Venture capitalists, Ventures} S = {Web entrepreneurs, Venture capitalists, Internet start-up companies) OS (10, 2, 3) ⒸS (Stock market success, Sold to other concerns, Fail} (b) Write down the associated probability distribution. Outcome first entry of S Probability 0.2 ✔ second entry of S 0.3 ✓ third entry of S 0.5 ✓ (c) What is the probability that a start-up venture that receives financing will realize profits for early investors?
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...
Related questions
Question
100%
Finite Math -
Can you please solve this without technology and show the step-by-step process?
Transcribed Image Text:The following excerpt is from an article in The New York Times in July 1999.+
While statistics are not available for web entrepreneurs who fail, the venture capitalists that finance such Internet start-up companies have a rule of thumb. For every 10 ventures that receive financing-and there are plenty that do not-2 will be stock market
successes, which means spectacular profits for early investors; 3 will be sold to other concerns, which translates into more modest profits; and the rest will fail.
(a) What is a sample space for the scenario?
Os (2, 3, the rest}
O S = {Web entrepreneurs, Venture capitalists, Ventures}
O S = {Web entrepreneurs, Venture capitalists, Internet start-up companies}
OS (10, 2, 3}
O S = {Stock market success, Sold to other concerns, Fail}
(b) Write down the associated probability distribution.
Outcome first entry of S
Probability 0.2
second entry of S
0.3
third entry of S
0.5
(c) What is the probability that a start-up venture that receives financing will realize profits for early investors?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Recommended textbooks for you
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON