Solve the Problem. -Of the Coffee Makers Sold in an Appliance Store, 5

question 193

Multiple Choice

Solve the problem.
-Of the coffee makers sold in an appliance store, 5% have either a faulty switch or a defective cord, 1.3% have a faulty switch, and 0.3% have both defects. What is the probability that a coffee maker will have a defective cord given that it has either a faulty switch or defective cord? Round to the nearest thousandth.

• A)0.003
• B)0.013
• C)0.260
• D)0.800

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Definitions:

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations with its current assets compared to its current liabilities.

Financial Statements

Authorized documents reflecting the economic actions and condition of an organization, individual, or different party, often encompassing the balance sheet, income statement, and cash flow statement.

Common Shares

Equity securities that represent ownership in a corporation, giving shareholders voting rights and a residual claim on corporate earnings in the form of dividends.

Total Equity

Represents the value left in a company after all liabilities have been subtracted from assets, essentially the net assets owned by shareholders.