A Gardener Buys a Package of Seeds

question 108

Multiple Choice

A gardener buys a package of seeds. Seventy-six percent of seeds of this type germinate. The gardener plants 110 seeds. Approximate the probability that fewer than 77 seeds
Germinate.

• A) 0.0559
• B) 0.9599
• C) 0.9441
• D) 0.0401

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Definitions:

U.S. GAAP

United States Generally Accepted Accounting Principles, a framework of accounting standards, principles, and procedures used in the U.S. for financial reporting.

Earnings Per Share

A measure of a company's profitability, calculated as its net income divided by the total number of outstanding shares.

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period.

Extraordinary Gains

Profits from events or transactions that are both unusual in nature and infrequent in occurrence, though this distinction has been eliminated in current accounting practices.