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

question 155

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 succeed is ________.

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Definitions:

ControlLogix Controllers

A line of industrial controllers from Allen-Bradley that offer advanced features for process, motion, and discrete control applications, providing integrated safety, information, and communication.

Time Base

The reference timing interval used by timers, dictating how the timer increments or decrements time counts.

Retentive On-relay Timer

A timer that retains its accumulated value even when the control power is interrupted, resuming its timing function once power is restored.

Power Loss

The interruption or failure of electrical power supply, affecting the operation of devices, systems, and entire facilities, requiring mitigation strategies.