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Use the rule of total probability to find the indicated probability.
-A teacher designs a test so a student who studies will pass 82% of the time, but a student who does not study will pass 13% of the time. A certain student studies for 81% of the tests taken. On a given
Test, what is the probability that student passes?
Credit Memo
A document issued by a seller to a buyer, reducing the amount owed by the buyer under specified circumstances, like returns or discounts.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, thereby preparing the books for the next period.
Owner's Drawings
The amount of money taken from the business by the owner for personal use, not considered a business expense.
Sales Revenue
A company's total income from product sales or service charges prior to the deduction of any operational expenses.
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