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Laid-off workers who become entrepreneurs because they cannot find meaningful employment with another company are known as entrepreneurs by necessity: The Wall Street Journal reports that these entrepreneurs by necessity are less likely to grow into large businesses than are entrepreneurs by choice (J. Bailey; "Desire More Than Need Builds a Business, The Wall Street Journal, May 21,2001). A related article states that 11% of the entrepreneurs in the United States are entrepreneurs by necessity and tne remaining are entrepreneurs by choice. Only 4.5% of entrepreneurs by necessity expect their new business t0 employ 20 or more people within 5 years, whereas 12.3% of entrepreneurs by choice expect t0 employ at least 20 people within 5 years a) Mr: Gupta is_a new entrepreneur who has just received his MBA degree. He predicts that his new "iPods and uPods" business will edoloy 20 or more people within five years. Based on this information, what is the probability that Mr: Gupta is an entrepreneur by choice? Enter your answer In the space below ndecimal form; NOT In % form. Round your answer Io decimalplaces For example, if your compuled probability is 12 3490 then write 0 1234
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