If It Has Been Determined That the Probability of an Earthquake

question 47

Multiple Choice

If it has been determined that the probability of an earthquake occurring on a certain day in a certain area is 0.05, what are the odds against an earthquake?

• A)18 to 1
• B)1 to 20
• C)19 to 1
• D)20 to 1

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Definitions:

Time And Material Pricing

A pricing method that charges the customer based on the actual time spent and materials used on a project.

Labour Charge

The amount paid for the work performed by employees or workers, typically based on hours worked or tasks completed.

Overhead Costs

Expenses related to the day-to-day running of a business that cannot be directly linked to a specific product or service.

Time Charge

A billing method where a service provider charges a client based on the amount of time spent on a particular task or project.