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In: Statistics and Probability

It is known that 77% of all new products introduced in grocery stores fail (are taken...

It is known that 77% of all new products introduced in grocery stores fail (are taken off the market) within 2 years. If a grocery store chain introduces 62 new products, find the following probabilities. (Round your answers to four decimal places.)

(a) within 2 years 47 or more fail


(b) within 2 years 58 or fewer fail


(c) within 2 years 15 or more succeed


(d) within 2 years fewer than 10 succeed

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Expert Solution

orchestra answered 2 years ago
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