The owners of a two-person business make their decisions

Reference no: EM13606689

The owners of a two-person business make their decisions independently of each other and then compare their decisions. If they agree, the decision is made; if they do not agree, then further consideration is necessary before a decision is reached. Each has a history of making the right decision 66% of the time.

(a) What is the probability that they make the right decision on the first try. (Give your answer correct to two decimal places.)

(b) What is the probability that they make the wrong decision on the first try. (Give your answer correct to two decimal places.)

(c) What is the probability that they delay the decision for further study. (Give your answer correct to two decimal places.)

Reference no: EM13606689

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