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The availability of venture capital provided a big boost on funds available to companies recent years. According to Venture Economics, 2,374 venture capital disbursements were made in 1999. Of these 1,334 were to companies in California, 490 were to companies in Massachusetts, 117 were to companies in New York, and 212 were to companies in Colorado. 32% of the companies receiving funds were in the early stages of development a d 45% were in the expansion stage. Suppose you were to randomly choose one of these companies to learn about how they used the funds.

A. What is the probability the company chosen will be in New York
B. What is the probability the company chosen will not be from one of the four states mentioned.
C. What is the probability the company wil not be in the expansion stages of development
D. Assuming the companies in the early stages of development were evenly distributed across the county, how many Massachusetts companies receiving venture capital funds were in there early stages of development.
E. The total amount of funds invested was 32.4 billion. Estimate the amount that went to Colorado.

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The availability of venture capital provided a big boost on funds available to companies recent years. According to Venture Economics, 2,374 venture capital disbursements were made in 1999. Of these 1,334 were to companies in California, 490 were to companies in Massachusetts, 117 were to companies in New York, and 212 were to companies in Colorado. 32% of the companies receiving funds were in the early stages of development a d 45% were in the expansion stage. Suppose you were to randomly choose one of these companies to learn about how they used the funds.
A. What is the probability the company chosen will be in New York

Among 2,374 venture capital disbursements, 117 were to companies in New York. So, the probability the company chosen ...

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  • "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
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