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 ________.

---

Definitions:

Togetherness

The feeling or state of being close to others, fostering a sense of unity and mutual support.

Teamwork

Joint action by a team of people in which individual interests are subordinated to team unity.

Divergent Thinking

A thought process or method used to generate creative ideas by exploring many possible solutions.

Team Creativity

The process and outcome of generating novel and useful ideas and solutions through the collaborative efforts of a group or team.