Using data from different insurance companies and their income in the member countries of the European Union (EU), a researcher claims to be able to estimate candidates faced with impending financial crisis. He selects seven insurance companies from a group of 16 as candidates for failure. In fact, five of the seven companies selected by the researcher were among those that failed. Evaluate this test of his ability to detect failed insurance companies.

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Part 1

The ability of the researcher to detect failed insurance companies is approximately .

enter your response here.

(Simplify your answer. Round to six decimal places as needed.)