On an Exam on Probability Concepts, Sue Had an Answer $\frac { 13 } { 8 }$

question 18

Short Answer

On an exam on probability concepts, Sue had an answer of $\frac { 13 } { 8 }$ for one problem. Explain how
she knew that this result was incorrect.

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Definitions:

Expanding Markets

The process of entering new geographic or demographic market segments to increase customer base and achieve higher sales.

Moderate Market Share

Refers to a company holding a fair but not dominating percentage of sales in its industry.

Dog

A domesticated carnivorous mammal, Canis familiaris, known for its loyalty and companionship with humans.

Low-Growth Market

A market that experiences minimal increases in consumer demand or revenue potential over time.