Judging from Recent Experience, 5 Percent of the Computer Keyboards

question 16

Multiple Choice

Judging from recent experience, 5 percent of the computer keyboards produced by an automatic, high-speed machine are defective. If six keyboards are randomly selected, what is the probability that none of the keyboards are defective?

• A) 0.001
• B) 0.167
• C) 0.735
• D) 0.500

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Definitions:

Wage Rate

the standard amount of compensation given for labor services per unit of time, often expressed per hour or year.

Lump Sum Payment

A single payment made at a particular time, as opposed to multiple payments over time, often used in contexts like settlements or pensions.

Labor Income

Earnings derived from work or employment, including wages, salaries, commissions, and bonuses.

Budget Line

A graphical depiction in economics that shows all possible combinations of two goods that can be purchased with a fixed amount of income.