SOLUTION: The following excerpt is from an article in The New York Times in July 1999.† While statistics are not available for web entrepreneurs who fail, the venture capitalists that fin

Question 1196236: The following excerpt is from an article in The New York Times in July 1999.†
While statistics are not available for web entrepreneurs who fail, the venture capitalists that finance such Internet start-up companies have a rule of thumb. For every 10 ventures that receive financing—and there are plenty that do not—2 will be stock market successes, which means spectacular profits for early investors; 3 will be sold to other concerns, which translates into more modest profits; and the rest will fail.
(a)
What is a sample space for the scenario?
S = {2, 3, the rest}
S = {Web entrepreneurs, Venture capitalists, Ventures}
S = {Web entrepreneurs, Venture capitalists, Internet start-up companies}
S = {10, 2, 3}
S = {Stock market success, Sold to other concerns, Fail}
(b)
Write down the associated probability distribution.
Outcome first entry of S second entry of S third entry of S
Probability
(c)
What is the probability that a start-up venture that receives financing will realize profits for early investors?

Answer by ikleyn(52905) (Show Source): You can put this solution on YOUR website!
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D U P L I C A T E

Just was answered once at this forum. See the link

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