(1) There are 3 individuals who contracted a type of disease, statistics show th
ID: 3133612 • Letter: #
Question
(1) There are 3 individuals who contracted a type of disease, statistics show that 30% of people who contract this disease do not survive. What is the probability that (a) none will survive (b) all will survive (c) at least one will survive ?
(2) Chance for a successful launch of a clothing brand is 80% and launching is continued until one successful investor is found. Suppose that each launching cost $1 million and in addition a failure results in an additional $0.25 million. (a) what is the probability that more than 3 investors are required at launching ? (b) Find the cost of the brand
Explanation / Answer
1.
A)
The probability of survival is then p = 1-0.3 = 0.7.
Note that the probability of x successes out of n trials is
P(n, x) = nCx p^x (1 - p)^(n - x)
where
n = number of trials = 3
p = the probability of a success = 0.7
x = the number of successes = 0
Thus, the probability is
P ( 0 ) = 0.027 [ANSWER]
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B)
Note that the probability of x successes out of n trials is
P(n, x) = nCx p^x (1 - p)^(n - x)
where
n = number of trials = 3
p = the probability of a success = 0.7
x = the number of successes = 3
Thus, the probability is
P ( 3 ) = 0.343 [ANSWER]
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C)
As
P ( 0 ) = 0.027
Then
Thus, P(at least one) = 1 - P(0) = 0.973 [ANSWER]
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