Is business success just chance? Investors like to think that some companiesare
Chapter 0, Problem 17.55(choose chapter or problem)
Is business success just chance? Investors like to think that some companiesare consistently successful. Academic researchers looked at data for manycompanies to determine whether each firms sales growth was above the medianfor all firms in each year. They found that a simple just chance model fit well:years are independent, and the probability of being above the median in any oneyear is 1/2.18 If this model holds, what is the probability that a particular firm isabove average for two consecutive years? For all of four years?
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