Compute Probabilities Involving Permutations and Combinations
-A Committee Consisting of 6

question 218

Multiple Choice

Compute Probabilities Involving Permutations and Combinations
-A committee consisting of 6 people is to be selected from eight parents and four teachers. Find the probability of selecting three parents and three teachers.

• A) \(\frac { 8 } { 33 }\)
• B) \(\frac { 2 } { 33 }\)
• C) \(\frac { 100 } { 231 }\)
• D) \(\frac { 10 } { 11 }\)

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Definitions:

Excess Capacity

A situation where a company can produce more goods than the market demands, often leading to inefficiencies.

Monopolistic Competition

A market structure featuring many firms selling products that are similar but not identical, allowing for competition based on quality, price, and marketing.

Chronic Excess Capacity

A persistent situation in which industries or firms have more production capacity available than is being used, often leading to economic inefficiencies and reduced profit margins.

Minimum-Cost Output

The quantity of output at which the average total cost is lowest—the bottom of the U-shaped average total cost curve.