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April 16, 2014

Homework Help: Probability

Posted by Daniel on Monday, October 30, 2006 at 4:13am.

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%

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