From Recent Polls About Customer Satisfaction, You Know That 85

question 78

Multiple Choice

From recent polls about customer satisfaction, you know that 85% of the clients of your company are highly satisfied and want to renew their contracts.If you select a random sample of 30 clients, what is the probability that exactly 25 are highly satisfied?

• A).184
• B).186
• C).188
• D).190
• E).192

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Definitions:

Apples

A type of fruit that comes in various colors and flavors, commonly grown in temperate climates.

Perfect Complements

Goods that are consumed together in fixed proportions, such that the consumer regards them as inseparable in use.

Income Effect

The change in an individual's or economy's purchasing power generated by a change in income, affecting the quantity demanded of a good or service.

Substitution Effect

The change in consumption patterns due to a shift in relative prices, leading consumers to substitute one product for another more affordable one.