Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 13, 2024

It is estimated that 70% of startups fail within the first three years. If you and four friends each try a startup, what is

It is estimated that 70% of startups fail within the first three years. If you and four friends each try a startup, what is the chance that the majority (3 people, 4 people or 5 people, out of 5) will be successful in 3 years time?

Step by Step Solution

★★★★★

3.47 Rating (154 Votes )

There are 3 Steps involved in it

Step: 1

To calculate the probability of the majority of the startups being successful we need to consider ea... blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Transportation A Global Supply Chain Perspective

Authors: John J. Coyle, Robert A. Novak, Brian Gibson, Edward J. Bard

8th edition

9781305445352, 1133592961, 130544535X, 978-1133592969

More Books

Students also viewed these Mathematics questions

Question

★★★★★

The profit margin ratio, return on assets, and return on equity are increasing decreasing over the five years examined The return on assets and the return on equity for each year are both very...

Answered: 1 week ago

Question

★★★★★

Techvardhan Infra Pvt. Ltd (Any Company) "CLIENT" has acquired a piece of land near Gurugram HR and wants to develop it as a residential building having 50 flats of 900 sq. ft each. They are...

Answered: 1 week ago

Question

★★★★★

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Answered: 1 week ago

Question

★★★★★

4. This problem investigates nearest neighbor and bilinear interpolation. For simplicity, we will focus on estimating the image intensity at a single location. Interpolation is used when transforming...

Answered: 1 week ago

Question

★★★★★

Without using xii variables to introduce fictional shipments from a location to itself, formulate the linear programming model for the general transshipment problem described at the end of Sec. 23.1....

Answered: 1 week ago

Question

★★★★★

Ford Motor Company (F) disclosed the following estimated product warranty payable for two recent years. Ford's sales in its automotive sector were $135,782 million in Year 2 and $139,369 million in...

Answered: 1 week ago

Question

★★★★★

Alcohol and drug use among student athletes

Answered: 1 week ago

Question

★★★★★

Operating cash flows, rather than accounting profits, are listed in Table 11-4.What is the basis for this emphasis on cash flows as opposed to net income?

Answered: 1 week ago

Question

★★★★★

Condensed income statements for Blue Spruce Corporation are shown below for two years. Sales Cost of Goods Sold Gross Profit Operating Expense Net Income 2021 $91,500 54,900 $36,600 18,300 $18,300...

Answered: 1 week ago

Question

★★★★★

4 Balancing the Expanded Accounting Equation Activity 4.a - Balance the Expanded Accounting Equation Enter the missing value to balance the equation. Assets = Liabilities + Common Stock - Dividends +...

Answered: 1 week ago

Question

★★★★★

You are the Cost Accountant of an industrial concern and have been given the following budgeted information regarding the four cost centers within your organization. Department Department Department...

Answered: 1 week ago

Question

★★★★★

In the 1930s, Dr. Joseph Rhine tested 500 participants to guess the order in a shuffled deck of cards. Only those participants who guessed correctly moved to the next round. The last participant to...

Answered: 1 week ago

Question

★★★★★

You are required to design a shell and tube heat exchanger having a rectangular cross section as shown in figure 1 below. The heat exchanger uses water as the cooling fluid to reduce the temperature...

Answered: 1 week ago

Question

★★★★★

The Bakeoff Case Read "The Bakeoff" case and post approximately 1 page of text (about 4 paragraphs) answering the following questions SOLELY based on the case. Do not use other references. What were...

Answered: 1 week ago

Question

★★★★★

1. Determine the magnitude and direction of the force that must be applied to the bottom of the gate shown below to keep the gate closed. 3.4 m Water 1.5 m wide gate Hinge T 0.75 m

Answered: 1 week ago

Question

★★★★★

can someone help me with this practice wuestion Required information The following information applies to the questions displayed below. Wendell's Donut Shoppe is investigating the purchase of a new...

Answered: 1 week ago

Question

★★★★★

Apply Jacobis method to the given system. Take the zero vector as the initial approximation and work with four-significant-digit accuracy until two successive iterates agree within 0.001 in each...

Answered: 1 week ago

Question

★★★★★

If a random sample of 5 static friction coefficients has a mean of 0.005 and a standard deviation of 0.0002, sketch the distributions of both and its mean.

Answered: 1 week ago

Question

★★★★★

If the mean is equal 4, use the method of moments to provide estimates for the constants a and b for the density function f(x) = 0.5x/(b a)2 for a x b. Graph the resulting f(x).

Answered: 1 week ago

Question

★★★★★

If a random sample of 8 resistors has a mean of 11 ohms and a standard deviation of 2 ohms, sketch the distributions of both the resistance and its mean.

Answered: 1 week ago

Previous Question Next Question