Find the Indicated Probability

question 88

Multiple Choice

Find the indicated probability. Round to the nearest thousandth.
-A sample of 4 different calculators is randomly selected from a group containing 18 that are defective and 40 that have no defects. What is the probability that at least one of the calculators is defective?

• A) 0.774
• B) 0.785
• C) 0.215
• D) 0.180

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Definitions:

Uncertain Future Events

Events whose occurrence and impact cannot be predicted with certainty, often requiring risk management and contingency planning.

Contingent Liability

A possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity.

AASB 137

refers to an Australian accounting standard concerning the recognition and measurement of provisions, contingent liabilities, and contingent assets.

Financial Effect

The impact of financial transactions and events on the financial statements of an organization, altering its financial condition or performance.