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 1196239: 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}
Correct: Your answer is correct.
(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(52877) (Show Source): You can put this solution on YOUR website!
.

On its nature, this problem is for entertainment.

THEREFORE, I will not give a full solution. In accordance with the style of the problem, I will give TIPS / HINTS only.

(a)  By the definition, a sample space is the set of all possible different types of outcomes.



(b)  For each outcome event in this problem, its probability is the ratio of its frequency 
     to the full number of all possible outcomes in the experiment.


     In the short form,  P = .

Hope these tips are enough for you to complete the rest on your own
and take full advantage of this entertainment problem ( ! )

Happy learning ( ! )

Have a nice day ( ! )

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