Who’s the boss? The 2013 State of Women-Owned Businesses Report commissioned by American Express (www.womenable.com/content/userfiles/2013_State_of_Women-Owned_Businesses_Report_FINAL.pdf) says that, excluding large, publicly traded firms, women-owned firms make up 30% of the privately held firm population, a number that has increased by 59% since 1997. You call some firms doing business locally, assuming that the national percentage is true in your area.

1. What’s the probability that the first 3 you call are all owned by women?

2. What’s the probability that none of your first 4 calls finds a firm that is owned by a woman?

3. Suppose none of your first 5 calls found a firm owned by a woman. What’s the probability that your next call does?