Compute and Interpret Probabilities Using the Classical Method
-Use the Spinner

question 248

Multiple Choice

Compute and Interpret Probabilities Using the Classical Method
-Use the spinner below to answer the question. Assume that it is equally probable that the pointer will land on any one of the five numbered spaces. If the pointer lands on a borderline, spin again.


Find the probability that the arrow will land on an odd number.

• A) \(\frac { 3 } { 5 }\)
• B) \(\frac { 2 } { 5 }\)
• C) 1
• D) 0

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Definitions:

Marginal Cost

The expense associated with the manufacturing of an extra unit of a product or service.

Marginal Cost

The cost associated with producing an additional unit, emphasizing its role in decision-making.

Total Fixed Costs

The aggregate of all charges that stay fixed no matter the production level or output.

Average Total Cost

The total cost of producing a given output level divided by the quantity of output, including both fixed and variable costs.