Which of the Following Probabilities Would Be Best Determined by Using

question 35

Multiple Choice

Which of the following probabilities would be best determined by using the method of frequency?

• A)the odds that the next girl to enter a classroom will have red hair
• B)the odds that there is life on one of Jupiter's moons
• C)the odds that Morgan Freeman will play Batman in a movie
• D)the odds that a certain senator will be reelected
• E)the odds that a card selected randomly from a deck will be a four

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Definitions:

Interim Financial Reporting

Interim financial reporting involves the preparation of financial statements for periods shorter than a fiscal year, such as quarterly or half-yearly reports, to provide timely information.

LIFO

Last-In, First-Out, an inventory valuation method where the most recently acquired items are assumed to be sold first, affecting the cost of goods sold and ending inventory valuation.

Gross Profit Rates

The ratio of gross profit to net sales, indicating the percentage of revenue that exceeds the cost of goods sold.