Let's say that 80% of all business startups in the IT industry report that they generate a profit in their first year. If a sample of 10 new IT business startups is selected, find the probability that exactly seven will generate a profit in their first year.
Let's say that 80% of all business startups in the IT industry report that they generate a profit in their first year. If a sample of 10 new IT business startups is selected, find the probability that exactly seven will generate a profit in their first year.
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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