Find the Indicated Probability

question 59

Multiple Choice

Find the indicated probability. Find the probability that 3 randomly selected people all have the same birthday. Ignore leap years. Round to eight decimal places.

• A) 0.0082
• B) 0.3333
• C) 0.00000751
• D) 0.00000002

Understand the concept of elasticity of resource demand and its calculation.

Grasp the relationship between the elasticity of product and labor demand in different industries.

Comprehend the impacts of wage changes on labor demand and firm costs.

Understand the role of resource pricing and its significance in economics.

---

Definitions:

Liquidation Expenses

Costs associated with the process of winding down a company's business operations and distributing its assets to claimants.

Carrying Amount

The book value of an asset or liability on a company's balance sheet, reflecting adjustments like depreciation or amortization.

Loan Receivable

An amount of money that is loaned to another party in exchange for future repayment of the loan value or principal amount, along with interest or other finance charges.

Journal Entry

A record in accounting that documents a business transaction in the double-entry bookkeeping system.