Question

Dear Team,

Could you please help with the 2 problems below?

Thanks in advance for your help !

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Problem 1

Three startups were founded last year by Webster Geneva students. Each startup will either succeed (S) or fail (F).

a. Draw a tree diagram depicting the sample space of all possible scenarios for the three startups.

b. List the sample space outcomes that correspond to each of the following events:

1. All three startups will succeed.

2. Exactly one of the three startups will succeed.

3. Two or fewer will succeed.

4. One or more startups will succeed.

5. All three startups will follow the same outcome.

c. Assuming that all sample space outcomes are equally likely, find the probability of each of the events given in part b.

Problem 2

The Swiss Federal Department of Economic Affairs studied 125 startups that were founded in Switzerland over the last decade. It found out that out of these, 48 were Fintech startups and the rest operated in other sectors. It also found that overall 16 startups succeeded, out of which 7 were Fintech.

1. Fill in a contingency table for the results.

2. Find the probability that a randomly selected startup (use percent with 2 dp):

a. Is a Fintech startup

b. Succeeds

c. Is either a Fintech startup or fails

d. Operates in other (non-Fintech) sectors and succeeds

e. Find the probability that a startup succeeds, given that it is a Fintech startup, and interpret this proportion.

f. The Swiss Federal Department of Economic Affairs concluded that more government funds should be allocated to support Fintech startups, as they are more likely to succeed. Use your answer to (f) to answer: Do the data support the department’s claim? Justify your answer.

Answer 1

I have solved only 1st question.