Use the Following Information to Answer the Question

question 53

Multiple Choice

Use the following information to answer the question. Suppose that a recent poll of American households about pet ownership found that for households with a pet, 39% owned exactly a dog, 33% owned a cat, and 7% owned a bird. Suppose that three households are selected randomly and with replacement.
-What is the probability that all three randomly selected households own a cat? (Round to the nearest hundredth)

• A)0.03
• B)0.04
• C)0.06
• D)None of these

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Definitions:

Corporate Constitutional Rights

The legal rights and protections granted to corporations, treating them as entities that can exercise certain rights similar to individuals.

Corporate Citizenship

The commitment of a company to behave ethically and contribute to economic development while improving the quality of life of employees, communities, and society at large.

Corporation by Estoppel

A legal doctrine preventing one from denying the corporate status of an entity to escape liability after having treated it as a corporation.

Novation Clause

A legal provision that allows an original contract to be replaced with a new contract, wherein a new party takes on the obligations of one of the original parties.