Find the Indicated Probability If One of the 87 Flights Is Randomly Selected, Find

question 127

Multiple Choice

Find the indicated probability. Express your answer as a simplified fraction unless otherwise noted.
-The following table contains data from a study of two airlines which fly to Small Town, USA. $$\begin{array} { c | c c } & \text { Number of flights} & \text { Number of flights } \\& \text { which were on time } & \text { which were late } \\\hline \text { Podunk Airlines } & 33 & 6 \\\text { Upstate Airlines } & 43 & 5\end{array}$$
If one of the 87 flights is randomly selected, find the probability that the flight selected is an Upstate Airlines flight which was on time.

• A) \(\frac { 43 } { 76 }\)
• B) \(\frac { 43 } { 87 }\)
• C) \(\frac { 11 } { 76 }\)
• D) None of the above is correct.

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Definitions:

Ending Inventory

The final amount of goods available for sale at the end of an accounting period.

Perpetual System

An inventory system that continually updates inventory records and cost of goods sold after each purchase or sale.

Cost of Goods Sold

Refers to the specific expenses directly linked to the creation of the products a company sells.

Perpetual LIFO

A method of inventory valuation where the last items added to inventory are considered the first items sold, continuously updated in real-time.