What is the probability that exactly one of you has a, Financial Econometrics

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What is the probability that exactly one of you has a

Colonel Motors (an automobile company) has prepared a marketing campaign for its best-selling car.

The focus of the campaign is quality, and it is claimed that 97 % of the purchasers of this car have no complaints in the first year. You and your sister Kim have each purchased one of these cars.

What is the probability that exactly one of you has a complaint about the car in the first year if the advertising claim is true?

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Financial Econometrics: What is the probability that exactly one of you has a

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