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SCENARIO 5-6 a Certain Type of New Business Succeeds 60% of the of the Time

Question 105

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SCENARIO 5-6
A certain type of new business succeeds 60% of the time. Suppose that 3 such businesses open
(where they do not compete with each other, so it is reasonable to believe that their relative successes
would be independent).
-Referring to Scenario 5-6, the probability that all 3 businesses fail is ________.

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