Math 120, Assignment Three Probability Worksheet With Answers Page 5
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1
2
3
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5EV = $
12.50
16.
0/1 pointsJModd6 3.5.25. [1076100]
Erica has her savings in a bank account that pays
4.9%
interest per year. She is considering buying stock in a pharmaceuticals company that
is developing a cure for cellulite. Her research indicates that she could earn
48%
in one year if the cure is successful or lose
63%
in one
year if it is not. At what probability of success (P) would the pharmaceuticals stock be the better choice? (Round the answer to two decimal
places.)
P ≥
0.61
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