Inventing is a difficult way to make money. Only 5% of new patents earn a substantial profit. A certain city has just had 30 independent new patents recorded. a) What is the probability that at least 2 of these new patents will earn a substantial profit? b) Justify an appropriate simplified approximate method for answering the question in a), carry it out, and compare the two answers.
Inventing is a difficult way to make money. Only 5% of new patents earn a substantial profit. A certain city has just had 30 independent new patents recorded. a) What is the probability that at least 2 of these new patents will earn a substantial profit? b) Justify an appropriate simplified approximate method for answering the question in a), carry it out, and compare the two answers.
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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Inventing is a difficult way to make money. Only 5% of new patents earn a substantial profit. A certain city has just had 30 independent new patents recorded.
a) What is the
b) Justify an appropriate simplified approximate method for answering the question in a),
carry it out, and compare the two answers.
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