Find the Probability

question 298

Multiple Choice

Find the probability. Round to the nearest ten-thousandth when necessary.
-A family has five children. The probability of having a girl is 1/2. What is the probability of having No more than 3 boys?

• A) 0.5
• B) 0.8125
• C) 0.3125
• D) 0.9688

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Definitions:

Total Product

The overall quantity of output that a firm produces, usually in relation to a given amount of input.

Marginal Products

The additional output that results from using one more unit of a production input, keeping all other inputs constant.

Total Product

Total Product refers to the overall quantity of output that a firm produces, usually with respect to a given quantity of inputs over a specific period of time.

Marginal Products

The additional output produced as a result of utilizing one more unit of a particular input.