A Coin Is to Be Tossed 1000 Times

question 13

Multiple Choice

A coin is to be tossed 1000 times. What is the probability that the 785th toss is heads?

• A)0
• B)1/4
• C)1/2
• D)3/4
• E)1

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Definitions:

Standard Costs

Predetermined or estimated costs to manufacture a product or provide a service, used in budgeting and measuring performance.

Budgeted Cost Systems

Accounting methods that use budgets to project costs and revenues, helping companies plan for future operations and financial performance.

Product Costs

The three components of manufacturing cost: direct materials, direct labor, and factory overhead costs.

Standard Cost

A detailed estimate of what a product should cost.