Use the binomial distribution chart (opens in a new window) to find the probabilities. According to Inc.com, there is a 50% chance of a new business failing within the first five years. (Take note! This is one of those cases in which a "success" doesn't seem like what we think of as a success at all. In this case, we want to calculate probabilities regarding a business failing, so that is the "success" we are referring to.) If a random group of 6 businesses are selected, 1. What is the probability that exactly 2 businesses will fail in the first 5 years? P(r = + v x )= 0.234 (Enter the probability only.) Click to view hint 2. What is the probability that none will will fail? P(r x )= 0.016 v(Enter the probability only.) Click to view hint 3. What is the probability that at least 5 fail? P(r x)= 0.11 v (Enter the probability only) Click to view hint 4. What is the probability that all will will fail? P(r x )= 0.016 (Enter the probability only.) Click to view hint 5. What is the probability that no more than 4 will fail? P(r x )= 0.656 x (Enter the probability only.) Click to view hint page Next page

Use the binomial distribution chart (opens in a new window) to find the probabilities. According to Inc.com, there is a 50% chance of a new business failing within the first five years. (Take note! This is one of those cases in which a "success" doesn't seem like what we think of as a success at all. In this case, we want to calculate probabilities regarding a business failing, so that is the "success" we are referring to.) If a random group of 6 businesses are selected, 1. What is the probability that exactly 2 businesses will fail in the first 5 years? P(r = + v x )= 0.234 (Enter the probability only.) Click to view hint 2. What is the probability that none will will fail? P(r x )= 0.016 v(Enter the probability only.) Click to view hint 3. What is the probability that at least 5 fail? P(r x)= 0.11 v (Enter the probability only) Click to view hint 4. What is the probability that all will will fail? P(r x )= 0.016 (Enter the probability only.) Click to view hint 5. What is the probability that no more than 4 will fail? P(r x )= 0.656 x (Enter the probability only.) Click to view hint page Next page

Name: Your TurnUse the binomial distribution chart (opens in a new window)
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Description: Your TurnUse the binomial distribution chart (opens in a new window) to find the probabilities.According to Inc.com, there is a 50% chance of a new business failing within the first five years. (Take note!This is one of those cases in which a "succe

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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