SOLUTION: Three percent of all items sold by a mail-order company are returned by customers for a refund. Find the probability that of two items sold during a given hour by this company both

Question 1158767: Three percent of all items sold by a mail-order company are returned by customers for a refund. Find the probability that of two items sold during a given hour by this company both will be returned for a refund.
Answer by ikleyn(53339) (Show Source): You can put this solution on YOUR website!
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Three percent of all items sold by a mail-order company are returned by customers for a refund.
Find the probability that of two items sold during a given hour by this company both will be returned for a refund.
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In this problem, we have two independent events, each has the probability 0.03 to happen.


The question is to find the probability that both events will happen.


Due to the independence, this probability is  P = 0.03*0.03 = 0.0009.    ANSWER

Solved.

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