document.write( "Question 1026649: The Company A has recently signed a purchase agreement with company B to acquire 100 percent interest for $20 Million. Assume that the voting power is only limited to a few trusted shareholders, the decision require a simple majority of the 7 decision-making shareholders. If each is believed to have a 0.35 probability of voting yes on the purchase, what is the probability that will be purchased by Company A? \n" ); document.write( "

Algebra.Com's Answer #641921 by ikleyn(52790) $\"\"$ $\"About$

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\n" ); document.write( "The Company A has recently signed a purchase agreement with company B to acquire 100 percent interest for $20 Million. Assume that the voting power is only limited to a few trusted shareholders, the decision require a simple majority of the 7 decision-making shareholders. If each is believed to have a 0.35 probability of voting yes on the purchase, what is the probability that will be purchased by Company A?
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\n" ); document.write( "\n" ); document.write( "I just solved it in
\n" ); document.write( "https://www.algebra.com/algebra/homework/Probability-and-statistics/Probability-and-statistics.faq.question.1026419.html \r
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\n" ); document.write( "\n" ); document.write( "For your covenience, I am repeating this solution (its core) here again:\r
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document.write( "The probability to have 4 votes \"Yes\" is  ;\r\n" );
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document.write( "The probability to have 5 votes \"Yes\" is  ;\r\n" );
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document.write( "The probability to have 6 votes \"Yes\" is  ;\r\n" );
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document.write( "The probability to have 7 votes \"Yes\" is  .\r\n" );
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document.write( "Here the coefficients   are the binomial coefficients, also known as the number of combinations of n things taken k at a time:   = .\r\n" );
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document.write( "Now calculate the sum of these four particular probabilities. It is\r\n" );
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document.write( "   +  +  +  =  = 0.649.\r\n" );
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document.write( "Thus the probability to have the majority of votes \"Yes\" (4 or 5 or 6 or 7 votes) is equal to 0.649.\r\n" );
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