Use the Following Information to Answer the Question

question 59

Multiple Choice

Use the following information to answer the question. Suppose that a recent poll of American households about pet ownership found that for households with one pet, 39% owned a dog, 33% owned a cat, and 7% owned a bird. Suppose that three households are selected randomly and with replacement.
-What is the probability that at least one of the three randomly selected households own a bird? (Round to the nearest hundredth)

• A)0.60
• B)0.80
• C)0.40
• D)0.20

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Definitions:

Ownership Proportion

The percentage of shares or interest held in an entity, determining the extent of control or influence an owner has over that entity.

AASB 3

The Australian Accounting Standards Board standard that deals with the accounting treatment for business combinations.

Fair Value Method

An accounting strategy that assesses assets or liabilities at their current market value, rather than at historical cost or future projected value.

Proportionate Interest Method

An accounting method used to reflect a company's stake in a joint venture by recognizing only its share of assets, liabilities, income, and expenses in its financial statements.