Question: A regional director responsible for business development in the state of Pennsylvania is concerned about the number of small business failures. If the mean number
A regional director responsible for business development in the state of Pennsylvania is concerned about the number of small business failures. If the mean number of small business failures per month is 10, what is the probability that exactly 4 small businesses will fail during a given month? Assume that the probability of a failure is the same for any two months and that the occurrence or nonoccurrence of a failure in any month is independent of failures in any other month. Round your answer to four decimal places.
Step by Step Solution
3.32 Rating (164 Votes )
There are 3 Steps involved in it
Note that the probability of x successes ... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
1019-B-C-A-P-C(866).docx
120 KBs Word File
