Solve the Problem $\frac { 1 } { 720 }$ B) $\frac { 1 } { 594,823,321 }$

question 25

Multiple Choice

Solve the problem.
-A state lottery involves the random selection of six different numbers between 1 and 29. If you select one six number combination, what is the probability that it will be the winning combination?

• A) \(\frac { 1 } { 720 }\)
• B) \(\frac { 1 } { 594,823,321 }\)
• C) \(\frac { 1 } { 342,014,400 }\)
• D) \(\frac { 1 } { 475,020 }\)

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Definitions:

Contribution Margin

The difference between the sales revenue of a product and its variable costs, used to cover fixed expenses and contribute to profits.

Incremental Analysis

A decision-making technique that evaluates the financial consequences of making one more unit of a product or entering a new market.

Relevant Costs

Those costs and revenues that differ across alternatives.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.