It Is Estimated That 20% of Luxury Cars Manufactured in 2012

question 19

Multiple Choice

It is estimated that 20% of luxury cars manufactured in 2012 were silver.A car dealership typically sells 20 luxury cars per month.The probability that 8 of the luxury cars sold per month are silver is ________________________ .

• A)0.0006
• B)0.1276
• C)0.0222
• D)0.7779
• E)None of the above.

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Definitions:

Remittance

The act of sending money in payment or as a gift, often referring to funds sent by individuals working abroad to family members in their home country.

Cash Discount

A reduction in the price of an item for sale, offered to encourage prompt payment by the buyer.

Complement Rate

The difference between a specific rate and 100%, often used in the context of interest and discount rates.

Discount Date

The specified date on which a discounted transaction must be completed or by which a payment must be made to avail a reduced price.