Urn 1 Contains 3 Red Balls and 4 Black Balls $\frac { 13 } { 24 }$

question 63

Multiple Choice

Urn 1 contains 3 red balls and 4 black balls. Urn 2 contains 4 red balls and 2 black balls. Urn 3 contains 6 red balls and 5 black balls. If an urn is selected at random and a ball is
Drawn, find the probability it will be red.

• A) \(\frac { 13 } { 24 }\)
• B) \(\frac { 1 } { 3 }\)
• C) \(\frac { 379 } { 693 }\)
• D) \(\frac { 13 } { 1386 }\)

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Definitions:

Replacement Cost

The cost to replace an asset at its current market price, often used in insurance and accounting.

Inventory

The total amount of goods or materials a company has in stock for sale or production.

LIFO Method

Last In, First Out method; an inventory valuation method where the last items added to inventory are assumed to be sold first.