Find the Probability $\frac { 1 } { 365 }$ B) $\frac { 1 } { 12 }$

question 96

Multiple Choice

Find the probability.
-If a person is randomly selected, find the probability that his or her birthday is in May. Ignore leap years. Assume that all days of the year are equally likely for a given birth.

• A) \(\frac { 1 } { 365 }\)
• B) \(\frac { 1 } { 12 }\)
• C) \(\frac { 31 } { 365 }\)
• D) \(\frac { 1 } { 31 }\)

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Definitions:

Planning Budget

A planning budget is used for guiding a company's spending and operational goals before the start of a financial period.

Other Expenses

Financial outlays that do not fit into standard cost categories, often including unusual or infrequent costs.

Spending Variance

The difference between the actual amount spent in a budget category and the amount that was originally budgeted, indicating over or under-spending.

Customers Served

Refers to the total number of customers who have been provided with a service or product within a specific time frame.