Use the Rule of Total Probability

question 175

Multiple Choice

Use the Rule of Total Probability
-A company manufactures shoes in three different factories. Factory Omaha Produces 25% of the company s shoes, Factory Chicago produces 60%, and factory Seattle produces 15%. One percent of the shoes produced in Omaha are mislabeled, 0.5 % of the Chicago shoes are mislabeled, and 2% of the Seattle shoes are mislabeled. If you purchase one pair of shoes manufactured by this company what is the probability that the shoes are mislabeled

• A) 0.009
• B) 0.036
• C) 0.043
• D) 0.020

Recognize the role of reinforcement types in shaping behavior.

Appreciate the influence of conditioned stimuli in learning processes.

Understand the ecological and geographical distribution of foraging communities.

Comprehend economic practices and their cultural significance, including potlatch, prestige economies, and the use of money.

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Definitions:

Rights Offering

A financial opportunity offered by a corporation to its existing shareholders to purchase additional shares directly from the company at a discounted price.

Firm Commitment

A guarantee given by an underwriter to purchase all the unsold shares in an initial public offering or a secondary offering.

Financial Responsibility

The ability to manage one's financial resources wisely, including saving, investing, and spending in a manner that ensures long-term financial stability.

Syndicate Buys

Refers to a group of investors or underwriters pooling together to buy the entire or a large portion of a new securities issue for resale.