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Find the indicated probability.
-You toss four coins and record the number of tails. You repeat this many times. The results are shown below. Find the empirical probability of getting 4 tails. Round your answer to the nearest thousandth.
Spending
The process of spending money to buy goods or services.
Income
The amount of money received over a period of time through work, business, investments, or other sources.
Goods
Tangible items that satisfy human wants or needs and are available for purchase.
Maximizing Utility
The economic principle that individuals seek to obtain the greatest satisfaction or utility from their consumption choices within their income constraints.
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