The Probability of the Occurrence of Event a in an Experiment

question 44

Multiple Choice

The probability of the occurrence of event A in an experiment is 1/3. If the experiment is performed two times and event A did not occur, then on the third trial event A _____.

• A) must occur
• B) may occur
• C) could not occur
• D) has a 2/3 probability of occurring

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Definitions:

Common Fixed Costs

Costs that remain unchanged in total for a given time period, despite variations in activity level.

Variable Costing

An accounting method that includes only variable costs—costs that change with production level—in product costs, excluding fixed manufacturing overhead.

Absorption Costing

An accounting method that includes all direct and indirect manufacturing costs in the cost of a product.

Product Costs

Expenses directly tied to the production of goods or services, including materials, labor, and overhead costs.