The Age of Customers at a Local Hardware Store Follows

question 210

Multiple Choice

The age of customers at a local hardware store follows a uniform distribution over the interval from 18 to 60 years old. Find the probability that the next customer who walks through the door exceeds 50 years old. Round to the nearest ten-thousandth.

• A) 0.2381
• B) 0.7619
• C) 0.3600
• D) 0.8333

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Definitions:

Liabilities

Financial obligations or debts owed by a business to others, which must be paid back.

Merchandise Inventory

Merchandise inventory includes goods that a company intends to sell in the ordinary course of business, calculated at the cost of acquiring the goods.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Service Company

A business that provides intangible products or services to customers rather than physical goods.