Suppose That History Shows That 60% of College Students Prefer

question 50

Short Answer

Suppose that history shows that 60% of college students prefer Brand C cola.A sample of 5 students is to be selected.The probability that exactly 4 prefer brand C is _____.

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Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in the net income or loss for the period.

Vertical Analysis

A financial statement analysis in which each entry for each of the three major categories of accounts (assets, liabilities, and equities) in a balance sheet is represented as a proportion of the total account.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue.

Matching Principle

An accounting principle that dictates that expenses should be matched with the revenues they helped to generate in the same period.