Suppose That a Firm Offers Secret Discounts to 200 Customers

question 14

Short Answer

Suppose that a firm offers secret discounts to 200 customers in a particular industry to attract those customers from a competitor firm.If there is a 2% probability that any one of those customers will disclose the pricing,what is the probability that the firms competitors will hear from one of those 200 customers? Suppose there are instead 20 buyers to which discounts are offered.What is the probability then that the competitors may find out about one of the discounts?

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Definitions:

Italo-Byzantine

A style of art that combines elements of both Italian and Byzantine influences, characterized by its emphasis on religious iconography and mosaic work.

Renaissance Style

An era of European art and architecture characterized by a rebirth of Classical influence, humanism, and emphasis on symmetry, balance, and proportion.

Roman Fresco

A wall painting technique developed by the Romans, where water-based pigments are applied on freshly laid lime plaster, creating durable and vivid works.

Byzantine Art

A style of art that developed in the Eastern Roman Empire, characterized by religious iconography, extensive use of gold, and a distinctive aesthetic that emphasizes flatness and lack of perspective.