A Rather Harried Father Is Trying to Find a Much

question 8

Essay

A rather harried father is trying to find a much sought after toy for his daughter for Christmas. He has a choice of 10 stores to go to. From a radio announcement, he learned that the toy can definitely be found at 4 of the ten stores. Unfortunately, he did not hear which four stores! If the store he stops at does not have the toy, he will leave without buying anything, in other words, there is no replacement. He only has time to go to three stores. What is the probability that he will find the toy at the first stop?

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Definitions:

Depletion

The allocation of the cost of natural resources over their useful life, typically used in the mining, timber, petroleum, and similar industries.

Amortization

The process of gradually writing off the initial cost of an intangible asset over a period of time reflective of its useful life.

Depreciation

The distribution of a physical asset's cost across its lifespan, representing its diminishing value as time passes.

Accumulated Depreciation

Is the total depreciation of a company's fixed assets up to a specified time, reflecting how much of the asset's value has been used up.