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Find the probability.
-A die is rolled 20 times and the number of twos that come up is tallied. Find the probability of Getting exactly two twos. Round to the nearest thousandth when necessary.
Variable Costs
Expenses that change in proportion to the level of production or business activity.
Fixed Costs
Fixed costs are business expenses that remain constant regardless of the level of production or sales activities, such as rent, salaries, and insurance.
Contribution Margin
The sales price minus the variable costs of a product, indicating how much selling one more unit adds to profit.
Variable Costs
Costs that vary directly with the level of production or volume of output, such as raw materials and direct labor.
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