This is a very common question variety. You must learn to recognize them.
Pr(at least one) = 1 - Pr(none)
Suppose there is a 34% chance that a risky stock investment will end up in total loss of your investment. Because the rewards are so high, you decide to invest in three independent risky stocks. Find the probability that AT LEAST on of your three stocks becomes a total loss.
PLEASE HELP!!! Stats Please Help!!!!!<asap
Third prong: Going from what TKH has said, .
YES!!! I GO TO EVERY CLASS and have my book and all my notes in front of me. I have a hard time with math, I am an art major and I know this is ridiculous. I'm sorry. I tried taking .34 x .34 X .34
The anwser is 0.7125, but I cannot get it and its driving me nuts.
PLEASE HELP ME?
Art? Good luck with that. My eldest son just went to the Art Institute of Pittsburgh. It turns out he has some talent. He's related to me, but this is NOT evidence.
If the probability of any of the stocks failing is 0.34, then the probability of all three failing is 0.34*0.34*0.34 = 0.039304, but that is not what we seek.
The probabilitiy of AT LEAST ONE failing is Unity (1) less the probablity of NONE failing. Thus,
1) If Pr(one failing) = 0.34
2) then Pr(one succeeding) = 1 - 0.34 = 0.66
3) Pr(all three succeeding) = 0.66*0.66*0.66 = 0.287496 <== We need the independence assumption for this step.
4) Pr(at least one failing) = 1 - 0.287496 = 0.712504
It takes a very careful reading of the problem. Continue to attend class. Don't be afraid to ask questions. Your professors and teachers want you to understand.
It is likely the case that your questions are also the questions of others. You are saving other students the trouble of asking. Go for it.
If your professor or teacher is worth his/her salt, said professional educator will be able to judge if you are taking up too much time or if you are holding back the rest of the class. Let the professional educator judge this. Don't let others make the call. Until the professional educator asks you privately to back down a little (probably with a suggestion of turoring, other extra help, or perhaps changing your registration), don't quit asking. Even after such a suggestion, don't be discouraged. Realize you are under professional care and that correct things are happening.