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Suppose a man has ordered twelve 1-gallon paint cans of a particular color (lilac) from the local paint store in order to paint his mother's house. Unknown to the man, three of these cans contains an incorrect mix of paint. For this weekend's big project, the man randomly selects four of these 1-gallon cans to paint his mother's living room. Let x = the number of the paint cans selected that are defective. Unknown to the man, x follows a hypergeometric distribution. Find the probability that at least one of the four cans selected contains an incorrect mix of paint.
Net Sales
Total sales revenue minus returns, allowances for damaged or missing goods, and discounts.
Quarterly
Occurring every three months or four times a year, often used in the context of financial reports and payments.
Inventory Turnover
A metric indicating the number of times a business's stock is sold and replenished during a specific timeframe.
Net Sales
Sales revenue minus deductions for returns, allowances for damaged or missing items, and discounts.
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