The Probability That Pete Will Catch Fish When He Goes

question 5

Multiple Choice

The probability that Pete will catch fish when he goes fishing is .88. Pete is going to fish 3 days next week. Define the random variable x to be the number of days Pete catches fish. The probability that Pete will catch fish on one day or less is

• A) 0.880.
• B) 0.038.
• C) 0.040.
• D) 0.960.

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Definitions:

Government Production

The production of goods and services by government entities, often aimed at providing public goods that are not sufficiently supplied by the private sector.

Nonprofit Organization

An entity operating for purposes other than generating profit, typically focused on social, educational, or charitable activities.

Revenue Received

Income that an organization receives from its normal business operations, usually from the sale of goods and services to customers.

Positive Externality

A beneficial effect experienced by a third party, resulting from an economic transaction that they are not directly involved in.