SCENARIO 5-2 a Certain Type of New Business Succeeds 60% of the of the Time.Suppose

question 166

Short Answer

SCENARIO 5-2
A certain type of new business succeeds 60% of the time.Suppose that 3 such businesses open (where they do not compete,so it is reasonable to believe that their relative successes would be independent).
-Referring to Scenario 5-2,the probability that at least 1 business succeeds is_____ .

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Definitions:

Lagged Effect

A delayed response to a marketing communication campaign.

Ford Fusion

A mid-size sedan manufactured by Ford Motor Company, known for its stylish design, fuel efficiency, and advanced technology features, but production was discontinued as Ford shifted focus to SUVs and trucks.

Ads

Ads, short for advertisements, are paid messages by businesses or individuals intended to inform or persuade potential customers about products, services, or ideas.

Transmitter

An agent or intermediary with which the sender works to develop the marketing communications; for example, a firm’s creative department or an advertising agency.