Who’s the boss? The 2016 State of Women-Owned Businesses Report commissioned by American Express (www.womenable.com/70/the-state-of-women owned-businesses-in-the-u.s.:-2016) says that, excluding large, publicly traded firms, women-owned firms make up 38% of the privately held firm population, a number that doubled since 1997. You call some firms doing business locally, assuming that the national percentage is true in your area.

1. What’s the probability that the first 3 you call are all owned by women?

2. What’s the probability that none of your first 4 calls finds a firm that is owned by a woman?

3. Suppose none of your first 5 calls found a firm owned by a woman. What’s the probability that your next call does?