Chances: Risk and Odds in Everyday Life, by James Burke, reports that only2.2%of all local franchises are business failures. A Colorado Springs shopping complex has120franchises (restaurants, print shops, convenience stores, hair salons, etc.).

What isn? What isp? What is(rounded to the nearest tenth)?np

(b) What is the probability that none of the franchises will be a business failure? (Use 4 decimal places.)

(c) What is the probability that two or more franchises will be a business failure? (Use 4 decimal places.)

(d) What is the probability that four or more franchises will be a business failure? (Use 4 decimal places.)