Suppose 40% of All Seniors Have a Computer at Home

question 62

Multiple Choice

Suppose 40% of all seniors have a computer at home and a sample of 64 is taken.What is the probability that more than 30 of those in the sample have a computer at home?

• A)0.3686
• B)0.1314
• C)0.8686
• D)0.6314
• E)0.1343

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Definitions:

Contribution Format

A type of income statement where costs are separated into variable and fixed categories, highlighting the contribution margin.

Operating Leverage

A measure of how revenue growth translates into growth in operating income, determined by the proportion of fixed costs in a company's cost structure.

Sales Increase

The rise in the volume or amount of sales over a specific period, reflecting business growth.

Net Operating Income

The profit generated from a company's core business operations after deducting all operating expenses except for interest and taxes.