Compute Probabilities Using the General Multiplication Rule
-A Fast-Food Restaurant $0.861$

question 39

Multiple Choice

Compute Probabilities Using the General Multiplication Rule
-A fast-food restaurant chain with 700 outlets in the United States describes the geographic location of its restaurants with the accompanying table of percentages. A restaurant is to be chosen at random from the 700 to test market a new style of chicken. Given that the restaurant is located in the eastern United States, what is the probability it is located in a city with a population of at least 10,000 ? Round your answer to the nearest thousandth.

• A) \(0.861\)
• B) \(0.455\)
• C) \(0.4\)
• D) \(0.184\)

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Definitions:

Equivalent Unit

A measure used in cost accounting to represent a portion of a product in terms of a completed unit.

Cost Reconciliation

The process of analyzing and adjusting the differences between reported costs and actual costs, ensuring accuracy in financial reporting.

Partially Completed Production

Inventory that consists of items in the process of being manufactured but are not yet fully completed.

Equivalent Units

A term used in cost accounting to express the amount of materials or labor consumed in terms of fully completed units of output.