A what is the probability of exactly 6 successful rfps what


California Consulting, LLC is a consulting business operated by Dr. Matecki and one of his colleagues. In a typical year, California Consulting responds to 12 requests for proposals (RFPs) in hopes of obtaining business. Each RFP results in either a 'success' (California Consulting is awarded the contract) or a 'failure' (California Consulting does not win the business). Assume that the outcomes follow the binomial distribution with the probability of success equal to 0.4.

a. What is the probability of exactly 6 successful RFPs? What is the formula used

Solution Preview :

Prepared by a verified Expert
Business Management: A what is the probability of exactly 6 successful rfps what
Reference No:- TGS02894627

Now Priced at $10 (50% Discount)

Recommended (95%)

Rated (4.7/5)