Let's say that 80% of all business startups in the ITindustry report that they generate a profit in their first year.If a sample of 10 new IT business startups is selected, findthe probability that exactly seven will generate a profit intheir first year.

We have given that p = 80% = 0.80 n = 10 X ~ B( 10, 0.8 ). The pmf of Binomial distribution,…

Answered: Let's say that 80% of all business…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Let's say that 80% of all business startups in the IT industry report that they generate a profit in their first year. If a sample of 10 new IT business startups is selected, find the probability that exactly seven will generate a profit in their first year.