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2. We derived in class the expected time until discovery of a single firm (R&D- expected discovery). Using the same set-up, l

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Answer #1

The question is not complete as the previous setup is not known in this question.

The whole information will be required in order to solve the sum fully... Kindly state the full question with all the information on the previous setup so that the sum is solved properly...

Here, you can use a simple binomial distribution in order to solve the numerical...

Binomial Distribution Formula n! where n the number of trials (or the number being sampled) x the number of successes desired

Here, for none, put r = 0, and so on...

Generally, P(0) + P(1) + P(2) + P(3) + P(4) + .... P(n) = 1, where P means Probability...

Probability for atleast 1 = P(0) + P(1)

These are just the reference formulas that you can use in order to solve the question...

End of the Solution...

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