SOLUTION: Greetings.How can I go about to answer this kind of question? Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a gene

Question 1145200: Greetings.How can I go about to answer this kind of question?
Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a general equity unit trust fund will perform better than the overall JSE share index over any one-year period. If seven general equity unit trust funds are randomly selected from general equity unit trust funds.
What is the probability that all of these general equity unit trust funds performed better than the overall JSE share index over the past year ?

Answer by greenestamps(13203) (Show Source): You can put this solution on YOUR website!

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