a. What is the probability that all three projects will come in under budget? b. What is the probability that none of the projects will come in under budget?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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1. An account manager for a company that provides technical consulting for financial institutions has just begun
projects for three different clients: AmEx, Bank of India, and Canara Bank. Based on her research, she estimates
each project's probability of coming in under budget as 30%, 40%, and 20%, respectively. Assume each project's
outcome is independent of the other projects' outcomes.
a. What is the probability that all three projects will come in under budget?
b. What is the probability that none of the projects will come in under budget?
Transcribed Image Text:1. An account manager for a company that provides technical consulting for financial institutions has just begun projects for three different clients: AmEx, Bank of India, and Canara Bank. Based on her research, she estimates each project's probability of coming in under budget as 30%, 40%, and 20%, respectively. Assume each project's outcome is independent of the other projects' outcomes. a. What is the probability that all three projects will come in under budget? b. What is the probability that none of the projects will come in under budget?
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