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

question 6

Short Answer

TABLE 5-2
A certain type of new business succeeds 60% of the time. Suppose that three 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 exactly one business succeeds is ________.

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Definitions:

Business Plan

A detailed document outlining the objectives of a business, the strategy and tactics planned to achieve them, and the expected financial performance over a specified period.