FINITE
posted by Hilhellpp! .
Assume that the business makes a profit with probability
0.8 in the first year. For each year thereafter, the business makes a profit
with probability 0.8 if it made a profit in the previous year, and
with probability 0.2 if it did not make a profit in the previous year.
What is the probability that the business makes a profit in exactly
two of its first three years?
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