Find the Indicated Probability

question 36

Multiple Choice

Find the indicated probability. Round to four decimal places.
-A car insurance company has determined that 9% of all drivers were involved in a car accident last year. Among the 10 drivers living on one particular street, 3 were involved in a car accident last
Year. If 10 drivers are randomly selected, what is the probability of getting 3 or more who were
Involved in a car accident last year?

• A)0.9548
• B)0.0452
• C)0.4435
• D)0.0541

Grasp the fundamental role of education in promoting advanced farming techniques and technology adoption.

Recognize the pros and cons of economic strategies like privatization, export promotion, and import substitution for developing economies.

Assess the benefits and challenges associated with migration for poor countries.

Comprehend the impact of international and domestic policies on economic development, including trade restrictions and macroeconomic strategies.

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Definitions:

Probabilistic Demand

A forecasting approach that estimates the likelihood of various levels of demand for products or services based on probability distributions.

Lead Times

The duration between the initiation and completion of a process or project, often used in manufacturing and supply chain management to schedule production or deliveries.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Large-Scale Simulations

Computational models used to replicate and analyze the behavior of complex systems under various scenarios on a large scale.