Based on Weather Data Collected in Racine, Wisconsin, on Christmas

question 100

Multiple Choice

Based on weather data collected in Racine, Wisconsin, on Christmas Day, the weather had the following distribution: Based on the data, what is the probability that next Christmas will be rainy or cloudy and dry?

• A) 0.45
• B) 0.50
• C) 0.60
• D) 0.70

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Definitions:

Quotas

Restrictions set by governments on the quantity or value of goods that can be imported or exported, used to control trade balances and protect domestic industries.

Infant Industry

A new industry that is in its early stages of development and may be protected or supported by government policies.

Protection

Economic policies and actions, such as tariffs and quotas, taken by a government to shield domestic industries from foreign competition.

Compete

The act of striving against others for the purpose of achieving goals such as winning a market share, receiving recognition, or obtaining a scarce resource.