Discussion:
Q: The availability of venture capital provided by big boost in funds available to companies recent years. According to Venture Economics, 2,000 venture capital disbursements were made in 1999. Of these, 334 were to companies in California, 490 were to companies in Massachusetts, 217 were to companies in New York, and 71 were to companies in Colorado. Thirty-five percent of the companies receiving funds were in the early stages of development and 25% 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 Colorado?
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 will not be in the expansion stages of development.
d. Assuming the companies in the early stages of development were evenly distributed across the country, how many New York companies receiving venture capital funds were in their early stages of development?
e. The total amount of funds invested was $50 billion. Estimate the amount that went to Colorado.