Consider an Event X Comprised of Three Outcomes Whose Probabilities $\frac{9}{18}, \frac{1}{18}$

question 29

Multiple Choice

Consider an event X comprised of three outcomes whose probabilities are $\frac{9}{18}, \frac{1}{18}$ , and $\frac{6}{18}$ Compute the probability of the complement of the event.

• A) \( \frac{2}{18} \)
• B) \( \frac{1}{2} \)
• C) \( \frac{16}{3} \)
• D) \( \frac{16}{18} \)

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Definitions:

Gross Profit Ratio

A financial metric expressing the gross profit as a percentage of net sales, indicating the efficiency of production or service delivery.

Inventory Destroyed

Refers to stock items that have been damaged, expired, or cannot be sold, leading to a loss for the business.

Typical Gross Profit

The average gross profit a company makes after subtracting the cost of goods sold from its net sales.

FOB Shipping

Free On Board Shipping, a term used in shipping agreements to specify which party (buyer or seller) pays for shipping costs and when the ownership of the goods transfers.