The Probability That a Product Is Found to Be Defective

question 74

Multiple Choice

The probability that a product is found to be defective is 0.10. If we examine 50 products, which of the following has the highest probability?

• A) 3 defective products are found.
• B) 4 defective products are found.
• C) 5 defective products are found.
• D) 6 defective products are found.

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Definitions:

Economic Experiments

Controlled trials or simulations conducted to test economic theories or to study the effects of economic policy changes.

Winning

In a business context, achieving a competitive advantage or success in a specific market or area.

Intrinsic Fairness

An ethical principle referring to the inherent or natural equity or justice in processes, interactions, or distributions among individuals or groups.

Rational Behavior

The assumption that individuals make decisions based on seeking the most benefit while minimizing costs, according to their preferences and information.