document.write( "Question 1196239: The following excerpt is from an article in The New York Times in July 1999.†
\n" ); document.write( "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.
\n" ); document.write( "(a)
\n" ); document.write( "What is a sample space for the scenario?
\n" ); document.write( "S = {2, 3, the rest}
\n" ); document.write( "S = {Web entrepreneurs, Venture capitalists, Ventures}
\n" ); document.write( "S = {Web entrepreneurs, Venture capitalists, Internet start-up companies}
\n" ); document.write( "S = {10, 2, 3}
\n" ); document.write( "S = {Stock market success, Sold to other concerns, Fail}
\n" ); document.write( "Correct: Your answer is correct.
\n" ); document.write( "(b)
\n" ); document.write( "Write down the associated probability distribution.
\n" ); document.write( "Outcome first entry of S second entry of S third entry of S
\n" ); document.write( "Probability
\n" ); document.write( "(c)
\n" ); document.write( "What is the probability that a start-up venture that receives financing will realize profits for early investors?
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Algebra.Com's Answer #829104 by ikleyn(52879) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "On its nature, this problem is for entertainment.\r
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\n" ); document.write( "\n" ); document.write( "THEREFORE, I will not give a full solution. In accordance with the style of the problem, I will give TIPS / HINTS only.\r
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document.write( "(a)  By the definition, a sample space is the set of all possible different types of outcomes.\r\n" );
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document.write( "(b)  For each outcome event in this problem, its probability is the ratio of its frequency \r\n" );
document.write( "     to the full number of all possible outcomes in the experiment.\r\n" );
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document.write( "     In the short form,  P = .\r\n" );
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\n" ); document.write( "\n" ); document.write( "Hope these tips are enough for you to complete the rest on your own
\n" ); document.write( "and take full advantage of this entertainment problem ( ! )\r
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\n" ); document.write( "\n" ); document.write( "Happy learning ( ! )\r
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\n" ); document.write( "\n" ); document.write( "Have a nice day ( ! ) \r
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