A Report on High School Graduation Stated That 85 Percent

question 78

Multiple Choice

A report on high school graduation stated that 85 percent of high school students graduate. Suppose 3 high school students are randomly selected from different schools. What is the probability that all graduate?

• A) 0.85
• B) 0.947
• C) 0.614
• D) 0.283
• E) 0.003

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Definitions:

Conglomerate Merger

Merger that combines unrelated firms, usually with the goal of diversification, spurring sales growth, or spending a cash surplus in order to avoid a takeover attempt.

Horizontal Merger

A type of business consolidation that occurs between companies operating in the same industry, often to reduce competition or achieve economies of scale.

Vertical Merger

A merger between two companies that operate at different levels within the same industry's supply chain.

Innovative Products

Products that introduce new features, functions, or designs that differ significantly from previous products and may offer new benefits to the consumer.