The owners of a two-person business make their decisions independently of each other and then compare their decisions. If they agree, the decision is made; if they do not agree, then further consideration is necessary before a decision is reached. If each person has a history of making the right decision 60% of the time, what is the probability that together they:
a. Make the right decision on the first try?
b. Make the wrong decision on the first try?
c. Delay the decision for further study?

  • CreatedAugust 27, 2015
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