Five Identical Poker Chips Are Tossed in a Hat and Mixed

question 4

Multiple Choice

Five identical poker chips are tossed in a hat and mixed up. Two of the chips have been marked with an X to indicate that if drawn a valuable prize will be awarded. If you and three of your friends each draws a chip (with replacement) , what is the probability that at least one of your group of four will win the valuable prize? Round to the nearest thousandth.

• A)0.130
• B)0.870
• C)0.758
• D)None of these

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Definitions:

Units Sold

The total quantity of products sold by a business during a specific period.

Period Costs

Costs that are not directly tied to the production process and are expensed in the period in which they occur, such as selling, general, and administrative expenses.

Financial Reporting

The process of disclosing financial information and data about a company's financial performance, position, and cash flows to stakeholders and the public.

Units

The quantitative units of product or service in accounting or inventory management.