If 82% of Scheduled Flights Actually Take Place and Cancellations

question 17

Multiple Choice

If 82% of scheduled flights actually take place and cancellations are independent events,what is the probability that 3 separate flights will all take place?

• A).82
• B).55
• C).01
• D).67

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Definitions:

Compensation Expense

The total cost incurred by a company to compensate its employees, including wages, benefits, bonuses, and stock options.

Sales Increase

An upward trend in the volume or value of products or services sold by a business within a specific period, indicating potential growth or market acceptance.

Performance-Based Stock Option Plan

A compensation scheme where employees are granted options to purchase company stock based on meeting specific performance criteria, aligning their interests with shareholders.

Annual Average Increase

The yearly mean growth rate of an economic or financial metric, often calculated to understand the trend over a period.