Suppose Kristen is researching failures in the restaurant

Last updated: 7/18/2022

Suppose Kristen is researching failures in the restaurant business. In the city where she lives, the probability that an independent restaurant will fail in the first year is 67%. She obtains a random sample of 98 independent restaurants that opened in her city more than one year ago and determines if each one had closed within a year. What are the mean and standard deviation of the number of restaurants that failed within a year? P