SCENARIO 5-6 a Certain Type of New Business Succeeds 60% of the of the Time

question 48

Short Answer

SCENARIO 5-6
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).
-Referring to Scenario 5-6, the probability that at least 1 business succeeds is ________.

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Definitions:

Obligatory Exerciser

An individual who feels compelled to engage in physical exercise frequently and intensely, often due to psychological factors.

Mastery

The process of acquiring complete knowledge or skill in a subject or activity.

Single-minded Commitment

An unwavering focus and dedication towards achieving a specific goal, often disregarding distractions or obstacles.

Pre-existing Heart Problems

Medical issues related to the heart that were present before an individual obtained health coverage or sought medical advice.