Find the Indicated Probability

question 113

Multiple Choice

Find the indicated probability. Round to three decimal places.
-An airline estimates that 94% of people booked on their flights actually show up. If the airline books 73 people on a flight for which the maximum number is 71, what is the probability that the number of people who show
Up will exceed the capacity of the plane?

• A) 0.062
• B) 0.051
• C) 0.011
• D) 0.179

Recognize the importance of participant appreciation and confidentiality in research communications.

Understand the distinction between behavior-based questions and other types of interview questions.

Understand the various types of intelligences and their application in life.

Recognize the role of emotional intelligence in personal and professional success.

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Definitions:

Break-even Sales

The amount of revenue required to cover total costs, both fixed and variable, with no profit or loss.

Unit Selling Price

The price at which a single unit of a product is offered for sale to customers.

Unit Variable Costs

The cost associated with producing one additional unit of product, including materials, labor, and other variable expenses.

Break-even Point

The financial state in which total costs and total revenues are equal, meaning no net loss or gain is incurred by the business.