A Man Owns an Audi, a Ford, and a VW

question 100

Multiple Choice

A man owns an Audi, a Ford, and a VW. He drives everyday and never drives the same car two days in a row. These are the probabilities that he drives each of the other cars the next day: ​
Pr(Ford after Audi) = 0.5
Pr(VW after Audi) = 0.5
Pr(Audi after Ford) = 0.6
Pr(VW after Ford) = 0.4
Pr(Audi after VW) = 0.9
Pr(Ford after VW) = 0.1
​
If he drove the Ford on Monday, what is the probability that he will drive the VW on Wednesday?
​

• A)​Pr(VW on Wednesday) = 0.3
• B)​Pr(VW on Wednesday) = 0.4
• C)​Pr(VW on Wednesday) = 0.01
• D)​Pr(VW on Wednesday) = 0.1
• E)​Pr(VW on Wednesday) = 0.16

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Definitions:

Cost of Goods Sold

Cost of Goods Sold (COGS) refers to the direct costs attributable to the production of the goods sold in a company.

Periodic Inventory System

An inventory accounting system where updates are made at intervals, such as monthly or annually, rather than continuously.

FIFO

"First In, First Out," an inventory valuation method where goods first acquired are the first sold or used, affecting cost of goods sold and inventory value.

LIFO

An inventory valuation method that assumes the last items of inventory purchased are the first ones sold ("Last In, First Out").