1)According to the BBB 40% of all new restaurants fail in the first year.At some point in their first year, 80% of new restaurants that failed have to take out high-interest short-term loans in order to make payroll.Only 10% of new restaurants that survive the first year have to take out a payroll loan.

a.Suppose your buddy reciently opened a new restaurant and has come to you and asked for a loan to make his payroll.What is the probability that his restaurant will still be in business after year 1?

b.What is the probability that his restaurant will be out of business before the end of year?

c.What percent of restaurants have to get short term Payroll loans?

d.Discuss the concept of "independence" in the context of this question.

e.Discuss the concept of "mutually exclusive" in the context of this question.