Posted by Daniel on .
I have this question that's bugging me and will be grateful if someone can show me the caliculations also so that I can do others on my own bat. "David Brain, CEO of ACME STAINELSS STEEL INC, has appointed you as an environmental consultant to assess the possibility of a serious accident. You assess the chance of a serious accident in any particular month is about 2%. Find the probability there will be no spills over a six-month period." Thanks. Daniel
The probability of no "spills" (serious accidents) in one month is 0.98. For six months, it is (0.98)^6 = 88.6%