The Following Distribution Table Represents Preferences for Two Types of Cereals

question 12

Multiple Choice

The following distribution table represents preferences for two types of cereals by 2000 boys and girls. Determine the probability that the person is a boy, given that the person likes Fruity Cereal.

• A) 500/1,000
• B) 500/2,000
• C) 1,200/2,000
• D) 500/1,200
• E) None of the choices are correct

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Definitions:

Executory Costs

These are costs associated with fulfilling the terms of a contract, excluding the direct material and direct labor costs, such as utilities, insurance, and property taxes involved in leasing.

Bargain Purchase Option

A lease provision allowing the lessee to purchase the leased asset at the end of the lease term at a price significantly lower than the expected fair market value.

Minimum Periodic Rental

In leasing agreements, it refers to the lowest amount that the lessee must pay over a specified period.

Capital Lease

A lease agreement that is considered a purchase of an asset for accounting purposes, with the lessee assuming both the benefits and risks of ownership.