Compute Probabilities of Binomial Experiments

question 32

Multiple Choice

Compute Probabilities of Binomial Experiments
-The probability that a football game will go into overtime is 13%. What is the probability that two of three football games will go to into overtime

• A) 0.044
• B) 0.13
• C) 0.295
• D) 0.0169

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Definitions:

Property, Plant, and Equipment

These are long-term assets a company uses in the production of its goods and services, such as buildings, machinery, and vehicles.

Fixed Manufacturing Overhead

The set of production costs that do not change with the level of production, including salaries, rent, and insurance of the factory.

Direct Labor

The labor costs directly attributed to the production of goods, including wages of workers who are actively involved in the manufacturing process.

Raw Material

The basic materials from which a product is made, used in the manufacturing or production process.