Instruction 5.5 a Certain Type of New Business Succeeds 60% of the of the Time

question 171

Short Answer

Instruction 5.5
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 Instruction 5.5,the probability that all three businesses fail is ______

Determine the size of payments for loans or savings with varying interest rates and compounding frequencies.

Apply the concept of present value in determining the amount of periodic payments or contributions.

Use financial formulas to calculate the amount of interest paid over the life of a loan.

Plan financial goals such as saving for education, purchasing a home, or preparing for retirement by calculating necessary contributions.

---

Definitions:

Syntax

The set of rules, principles, and processes that govern the structure of sentences in a given language, especially in terms of word order and punctuation.

Telegraphic Speech

A stage of language development in young children in which they use two-word sentences with high-content words, omitting smaller, less important ones.

Proposition

An assertion that communicates a conviction or opinion, and has the potential to be accurate or erroneous.

Standard Form

A way of structuring arguments, statements, or equations according to established rules to make them clearer, easier to analyze, or solve.