Question: A machine producing electronic circuits has an average failure rate of 15% (they are difficult to make). The cost of making a batch of 500

A machine producing electronic circuits has an average failure rate of 15% (they are difficult to make). The cost of making a batch of 500 circuits is £8400 and the good ones sell for £20 each.

What is the probability of the firm making a loss on any one batch?

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