Find the Indicated Probability by Using the Special Addition Rule

question 115

Multiple Choice

Find the indicated probability by using the special addition rule.
-A percentage distribution is given below for the size of families in one U.S. city.
$\begin{array} { l c } \text { Size } & \text { Percentage } \\\hline 2 & 49.6 \\3 & 24.6 \\4 & 13.4 \\5 & 7.3 \\6 & 3.1 \\7 + & 2.0\end{array}$
A family is selected at random. Find the probability that the size of the family is at most 3. Round approximations to three decimal places.

• A)0.742
• B)0.258
• C)0.246
• D)0.496

Grasp the relationship between sales, production, direct material, direct labor, and overhead costs in budget preparation.

Analyze budgeted financial statements to identify potential cash shortages and the need for external financing.

Understand the use of budgeted information in strategic planning and decision-making processes.

Understand the principles of cash budgeting and forecasting.

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