Refer to Example 3.6, where we selected two ventures from four in which to invest. Use the
Question:
Refer to Example 3.6, where we selected two ventures from four in which to invest. Use the Combinations Rule to determine how many different selections can be made.
Data form Example 3.6
You have the capital to invest in two of four ventures, each of which requires approximately the same amount of investment capital. Unknown to you, two of the investments will eventually fail and two will be successful. You research the four ventures because you think that your research will increase your probability of a successful choice over a purely random selection, and you eventually decide on two. If you used none of the information generated by your research and selected two ventures at random, what is the probability that you would select at least one successful venture?
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9781292227085
13th Global Edition
Authors: Terry Sincich James Mcclave, P. George Benson