Please solve and explain steps, thank you!! . Suppose any of a CEO\'s 11 directo

Question

Please solve and explain steps, thank you!!

. Suppose any of a CEO's 11 directors has a chance of knowing whether the company should make a particular strategic investment in China. Assume any directors knowledge is independent of any other. (a) If the CEO asks a group of 3 randomly selected directors, what is the chance that the group will (b) what number N is the smallest group of randomly chosen directors that will have at least a 50% (c) If CEO asks all of his directors, what's the chance that they will not know the answer to the (d) Assuming the chance of knowing correct answers remains , how many board of directors would know the answer? I want a number, not a formula. chance of knowing the correct answer to the question? I want a number, not a formula. question? I want a number, not a formula. the CEO need to ensure the group of directors has a 95% chance of knowing the correct answer to the question?

Explanation / Answer

p= 1/11 ;q=10/11 .

a) Probabiliy = 1-P( none of 3 know the answer) = 1 - (10/11)^3 = 0.2486

b) 0.5 = 1-(10/11)^n

n = ln(0.5)/ln(10/11) = 7.25

Hence, 8 people are required

c) Probability = (10/11)^11=0.35

d) 0.95= 1- (10/11)^n

b = ln(0.05)/ln(10/11)= 31.43

Hence, 32 people are required.

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---