Suppose That a Family Has 5 Children and That the Probability

question 517

Multiple Choice

Suppose that a family has 5 children and that the probability of having a girl is $\frac { 1 } { 2 }$ . What is the probability of having exactly three girls and two boys?

• A) 0.6252
• B) 0.0313
• C) 0.3125
• D) 0.0625

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Definitions:

Utility Score

A numerical assessment that quantifies the satisfaction or utility an individual receives from making certain choices or consuming various goods and services.

Rate of Return

The increase or decrease in value of an investment over a set period, depicted as a percentage of the investment's starting cost.

Variance

A statistical measure that represents the dispersion of a set of data points or investment returns around their mean, indicating their spread or risk.

Indifference Curve

An indifference curve represents a graphical depiction of different bundles of goods between which a consumer is indifferent, reflecting their preferences for those goods' combinations.