Answered step by step
Verified Expert Solution
Question
1 Approved Answer
eBook A regional director responsible for business development in the state of Pennsylvania is concerned about the number of small business failures. If the mean
eBook A regional director responsible for business development in the state of Pennsylvania is concerned about the number of small business failures. If the mean number of small business failures per month is 12, what is the probability that exactly 4 small businesses will fail during a given month? Assume that the probability of a failure is the same for any two months and that the occurrence or nonoccurrence of a fallure in any month is independent of fallures in any other month. If required, round your answer to four decimal places. 5.3086
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started