Find the probability that noneconomic factors will be cause

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Reference no: EM131235838

WQood products industry officials now claim that major mill closures over noneconomic issues occur at a rate of one every six months. Assume that this rate is accurate.

a. find the probability that no major mill closures will occur during a given year over noneconomic issues.

b. Find the probability that noneconomic factors will be the cause for at least two major mill closures during a given year.

Reference no: EM131235838

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