Use the Relative Frequency Method to Estimate the Probability

question 156

Multiple Choice

Use the relative frequency method to estimate the probability. Round your answer to 2 decimal places when necessary.
-Of the last 100 people who failed the lie detector test, 23 turned out to be telling the truth. What is the probability that the next person who fails the test is actually telling the truth?

• A)0.23
• B)0
• C)0.5
• D)0.77

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Definitions:

Authorized Stock

The total number of shares a corporation is legally allowed to issue, as defined in its articles of incorporation.

Treasury Stock

Shares that were issued by a company and later reacquired. These shares do not pay dividends or have voting rights while held by the company.

Authorized Shares

Authorized shares are the maximum number of shares that a corporation is legally permitted to issue, as specified in its corporate charter.