Find the Indicated Probability

question 46

Multiple Choice

Find the indicated probability
-Assume that a study of 500 randomly selected school bus routes showed that 486 arrived on time. Is it "unusual" for a school bus to arrive late?

• A)No
• B)Yes

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Definitions:

Unproductive

Refers to resources or activities that do not contribute to the output or efficiency of a process or operation.

Fixed Costs

Costs that do not change in total with changes in the volume of production or sales, such as rent, salaries, and insurance.

Relevant

Pertaining to something that is closely connected or appropriate to the matter at hand, especially in decision making or problem-solving.

Decision

The act of making a choice among various alternatives.