Find the Indicated Probability

question 102

Multiple Choice

Find the indicated probability.
-When a pair of dice are rolled there are 36 different possible outcomes: 1-1, 1-2, ... 6-6. If a pair of dice are rolled 3 times, what is the probability of getting a sum of 7 every time? Round to eight decimal places.

• A) 0.00462963
• B) 0.00735168
• C) 0.00291545
• D) 0.0476

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Definitions:

Consumer Surplus

The difference between the highest amount a consumer is willing to pay and the actual price paid.

Supply Shift

A change in the quantity of a good that suppliers are willing and able to sell at each price, represented by a shift of the supply curve to the left or right.

Producer Surplus

The difference between the amount a producer is willing to accept for a good and the actual amount received from its sale.

Price Ceiling

A legal maximum price that can be charged for a product or service, typically set to protect consumers.