SCENARIO 6-8 A Company Has 125 Personal Computers. the Probability That Any

question 398

Multiple Choice

SCENARIO 6-8
A company has 125 personal computers. The probability that any one of them will require repair on a
given day is 0.15.
-Referring to Scenario 6-8, which of the following is one of the properties required so that the binomial distribution can be used to compute the probability that no more than 2 computers will
Require repair on a given day?

• A) The probability that a computer that will require repair in the morning is the same as that
• In the afternoon.
• B) A randomly selected computer on a given day will either require a repair or will not.
• C) The number of computers that will require repair in the morning is independent of the
• Number of computers that will require repair in the afternoon.
• D) The probability that two or more computers that will require repair in a given day
• Approaches zero.

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Definitions:

Actual Price Level

The current market price of goods and services, reflecting the true purchasing power of money at a given time.

Raw Materials

Basic materials from which products are made, typically extracted from natural resources.

Equilibrium Price Level

The equilibrium price level is the market state where the quantity of goods supplied is equal to the quantity of goods demanded, often considered the ideal balance for market transactions.

Real GDP

The measure of the value of all final goods and services produced within a country in a given period, adjusted for inflation.