A Certain Type of New Business Succeeds 60% of the Time.Suppose

question 257

Multiple Choice

A certain type of new business succeeds 60% of the time.Suppose that 3 such businesses open (where they do not compete with each other,so it is reasonable to believe that their relative successes would be independent) .Which of the following distributions would you use to determine the probability that all of them will fail?

• A)Binomial distribution.
• B)Poisson distribution.
• C)Normal distribution.
• D)Hypergeometric distribution.

---

Definitions:

Vision Care Package

A benefit program offered by employers or insurance plans that covers eye exams, glasses, and sometimes surgical procedures.

Union

An organization that represents the collective interests of workers, aiming to negotiate better wages, working conditions, and benefits.

Strategic Compensation Plan

A targeted approach to designing and implementing compensation policies that align employee rewards with business goals.