Question

During a particular year, 70 percent of the common stocks listed on the Nigeria Stock Exchange increased in market value, while 30 percent were unchanged or declined in market value. At the beginning of the year a stock advisory service chose 10 stock issues as being “specially recommended.”If the 10 issues represent a random selection, what is the probability that all 10 issues increased in market value?

a. 0.3342
b. 0.5147
c. 0.4481
d. 0.0282