How many loaves should the bakery make each day so that they can meet the demand 90% of the time?
December 25, 2020
Cost Management
December 25, 2020

You are a day trader on the stock exchange and you have invested all of your life savings in a portfolio containing 6 stocks. After dwelling on the risks involved in your investments, you have come to the conclusion that if at least half of the stock in you portfolio are profitable, your investment wil be a success.
Based on the emprical data available from the historical records of the stock exchange you beleive that the probability of a stock being profitable is 0.39. Assuming that the profitability of each stock is independant of all the other stocks, CALCULATE THE PROBABILITY (S) THAT YOUR INVESTMENT IS A SUCCESS.