Question

Assume that the business makes a profit with probability 0.4 in the first year. For each year thereafter, the business makes a profit with probability 0.6 if it made a profit in the previous year, and with probability 0.2 if it did not make a profit in the previous year.
What is the probability that the business makes a profit in exactly two of its first three years?

Answer 1

@ayeshaafzal221 @dan815 @freckles

Answer 2

Can i help?

Answer 3

please!

Answer 4

if you know how go for it @Redneckk__Lifee

Answer 5

ill try

Answer 6

@AlexandervonHumboldt2

Answer 7

Best Answer: 3 sequences of profit (P :
PPx: 0.2*0.7*0.3 = .042
PxP: 0.2*0.3*0.4 = .024
xPP: 0.8*0.4*0.7 = .224

add to get ans of 0.29 <---------