The probability that the company will fail within 2 years

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Reference no: EM13644583

Suppose that a person who has recently helped start a company for the first time is randomly selected. The probability that the company will fail within 2 years is 0.5 suppose we follow nine start ups (63 people) for two years and record the number of people whose company fail. Why is the binomial model inappropriate for finding the probility that atleast five of these 63 people will no longer be part of a start up within 2 years?

a. The trials are independant

b. there is a fixed number of trials: n

c. the probability of success, p, is the same in each trial

d. the only two outcomes are success and failure

Reference no: EM13644583

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