A Camera Manufacturer Just Shipped a Batch of 36 Digital

question 58

Multiple Choice

A camera manufacturer just shipped a batch of 36 digital cameras to local retailers and seven of the cameras have a defective sensor. Cutler Electronics received eight of these digital cameras. What is the probability that more than one of the cameras shipped to Cutler are defective?

• A)0.3050
• B)0.6322
• C)0.2456
• D)0.4972

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Definitions:

Common Stock

A type of security that represents ownership in a corporation, giving holders voting rights and a share in the company's profits through dividends and capital appreciation.

Appraised Fair Value

The estimated market value of an asset or liability determined by a qualified appraiser.

Journal Entry

A record in accounting that represents a business transaction, indicating the effects on each affected account in debit and credit formats.

Consolidated Statement

Another term for consolidated financial statements, which combine the financial data of a parent company with its subsidiaries into a single comprehensive reporting document.