The Machine Has Just Been Filled with 50 Black, 150

question 6

Multiple Choice

The machine has just been filled with 50 black, 150 white, 100 red and 100 yellow gum balls that have been thoroughly mixed. Sue and Jim approached the machine first. They both said they wanted red gum balls. What is the likelihood they will get their wish?

• A) 0.50
• B) 0.062
• C) 0.33
• D) 0.75
• E) None of the choices are correct

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Definitions:

Implied Authority

Implied Authority refers to the powers not explicitly granted but deemed necessary to carry out the duties officially entrusted to an individual or entity.

Management Compensation

The payment or remuneration provided to executives and managers for their services to an organization.

Corporate Policy

Guidelines and rules established by a company to govern its activities and decisions, reflecting its culture and objectives.

Business Judgment Rule

A legal principle that protects corporate directors and officers from liability for decisions made in good faith which they believed to be in the best interest of the company.