Question 595393
Forty percent of banks did not earn profits during 2003. The SEC selects two banks at random. Find the probability that neither of them earned profits in 2003.
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Binomial Problem with n = 2 and p(no profit) = 0.4
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P(x = 2) = 2C2*0.4^2*0.6^0 = 0.4^2 = 0.16
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Cheers,
Stan H.
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