TABLE 5-2 a Certain Type of New Business Succeeds 60% of the of the Time

question 174

Short Answer

TABLE 5-2
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 Table 5-2, the probability that all 3 businesses fail is ________.

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Definitions:

Fear

An emotion that occurs in response to a real or perceived current threat.

Apprehension

A feeling of anxiety or fear that something bad or unpleasant will happen.

Worry

A mental state involving feelings of anxiety and concern, often focused on negative or uncertain outcomes.

Atheoretical

Not based on or concerned with a particular theory.