Find the Indicated Probability

question 59

Multiple Choice

Find the indicated probability. Find the probability that 3 randomly selected people all have the same birthday. Ignore leap years. Round to eight decimal places.

• A) 0.0082
• B) 0.3333
• C) 0.00000751
• D) 0.00000002

---

Definitions:

Oligopoly

A market structure characterized by a few firms dominating the market, which can lead to limited competition and potentially higher prices for consumers.

Conglomerate

A large corporation composed of diverse companies or divisions in varying industries under one corporate group.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.

Horizontal Merger

A merger occurring between companies in the same industry, often leading to consolidation and potentially impacting competition.