In any given year, the chance of a good year is 40%, an average year is 35%, and the chance of a bad year is 25%. What is the probability of having two good years in a row? A. 16.00%. B. 10.00%. C. 8.75%.
The joint probability of independent events is obtained by multiplying the probabilities of the individual events together: (0.40) × (0.40) = 0.16 or 16%.
