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

question 159

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 all 3 businesses fail is _____.

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Definitions:

Corporate Social Responsibility

A business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders, aiming to positively impact society.

Sustainable Marketing

Marketing efforts that not only meet the company's needs but are also environmentally and socially responsible to benefit communities and future generations.

U.S. Marketers

Professionals in the United States who specialize in marketing, focussing on strategies and techniques to promote and sell products or services.

Bottom-line

The final total of an account, balance sheet, or financial result, often referring to a company's earnings or profits.