Kate P.

asked • 10/29/21

What is the probability that the business makes a profit in exactly two of its first three years?

 Assume that the business makes a profit with probability 0.5 in the first year. For each year thereafter, the business makes a profit with probability 0.9 if it made a profit in the previous year, and with probability 0.2 if it did not make a profit in the previous year.

What is the probability that the business makes a profit in exactly two of its first three years? 


1 Expert Answer

By:

William W. answered • 10/29/21

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5.0 (808)

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