A Large Industrial Firm Allows a Discount on Any Invoice

question 85

Multiple Choice

A large industrial firm allows a discount on any invoice that is paid within 30 days.Of all invoices, 10% receive the discount.In a company audit, 10 invoices are sampled at random.The probability that fewer than 3 of the 10 sampled invoices receive the discount is approximately_______________.

• A)0.1937
• B)0.057
• C)0.001
• D)0.3486
• E)0.9298

Understand the implications of fertility rates on population dynamics.

Calculate and interpret present value and future value in economic decision-making.

Recognize the impact of market prices and costs on economic decisions in specific contexts, including resource allocation.

Identify factors influencing global population growth and world demographics.

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Definitions:

Ordinary Bailment

A legal relationship where physical possession of personal property is transferred from one person to another, but ownership is not.

Bailee

A person or entity to whom goods are entrusted for a specified purpose by the bailor.

Bailed Property

Items temporarily entrusted to another person under a bailment agreement, where the recipient (bailee) is obligated to return them or manage them in a particular way.

Exculpatory Clause

A contract term that releases one party from liability for wrongful acts or negligence.