Find the Probability That an Event Will Not Occur
-A $\frac { 17 } { 20 }$

question 124

Multiple Choice

Find the Probability that an Event Will Not Occur
-A bag contains 20 marbles, of which 3 are blue and 7 are green. One marble is drawn from the bag. What is the probability that the marble drawn is not blue?

• A) \(\frac { 17 } { 20 }\)
• B) \(\frac { 3 } { 20 }\)
• C) \(\frac { 3 } { 10 }\)
• D) \(\frac { 1 } { 2 }\)

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Definitions:

Weighted-Average Method

An inventory costing approach that averages the cost of goods available for sale for the allocation of cost of goods sold and ending inventory.

Ending Inventory

The aggregate worth of all products ready to be sold at the conclusion of a fiscal period.

FIFO Method

An inventory valuation method that assumes the first goods purchased or produced are the first ones sold, standing for "First In, First Out".

Cost Per Equivalent Unit

The cost per equivalent unit is calculated in process costing, representing the cost assigned to a single unit of production, considering both completed and partially completed units.