Exhibit 5-4 Forty Percent of All Registered Voters in a National Election

question 77

Multiple Choice

Exhibit 5-4
Forty percent of all registered voters in a national election are female. A random sample of 5 voters is selected.
-Refer to Exhibit 5-4. The probability that the sample contains 2 female voters is

• A)0.0778
• B)0.7780
• C)0.5000
• D)0.3456

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Definitions:

Variable Costs

Costs that vary directly with the level of production or sales volume, such as materials and labor.

Fixed Costs

Costs that do not change with the amount of goods or services produced, such as rent, salaries, and insurance premiums.

Depreciation

An accounting method of allocating the cost of a tangible asset over its useful life.

Sales Price

The total cost that a consumer incurs to buy a product or service from a merchant.