Use the Addition Rule or the Multiplication Rule for Probability $$\begin{array} { | l | l | l | l | l | } \hline 10 & 30 & 10 & 30 & 10 \\\hline 20 & 10 & 50 & 10 & 20 \\\hline\end{array}$$

question 22

Multiple Choice

Use the addition rule or the multiplication rule for probability.
-As an incentive to get new customers, the local branch of a bank launched "bouncing
For bucks." During this week long event, any customer opening a new checking account
With the bank would have the opportunity to throw a bouncy rubber ball into a large box
Divided into squares. Each square was labeled with a dollar amount that would be
Deposited into his / her new checking account. The way the box was labeled is shown
Below. Out of the next three customers that come into the bank and play the game, what
Is the probability that at least one gets $50? $$\begin{array} { | l | l | l | l | l | } \hline 10 & 30 & 10 & 30 & 10 \\\hline 20 & 10 & 50 & 10 & 20 \\\hline\end{array}$$

• A) 0.001
• B) 0.271
• C) 0.729
• D) 0.300
• E) 0.125

Understand the fundamental concepts and purposes of organizational mission statements.

Comprehend the steps and importance of the decision-making and planning processes in management.

Acknowledge that management functions extend beyond business settings to all types of organizations.

Recognize the sources of funding for companies and the roles of various stakeholders.

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Definitions:

Profit Margin

A financial metric that shows the percentage of a company's revenue that remains as profit after accounting for costs and expenses.

Net Income

The remaining earnings of a company following the deduction of all expenses and taxes from its total revenues.

Net Sales

This represents the amount of sales generated by a company after deductions for returns, allowances for damaged or missing goods, and discounts.

Prepaid Expenses

Payments made in advance for goods or services, which are recognized as expenses over time as the benefits are received.