Participants in a 2 Day Biking Event, Cross the Finish

question 82

Multiple Choice

Participants in a 2 day biking event, cross the finish line at a rate of 10 bike riders per fifteen minute interval.The probability that at least 2 minutes will elapse between bike riders is closest to _____________.

• A).0000
• B).0498
• C).2635
• D).1353
• E).4647

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Definitions:

Surplus

An excess amount of a commodity or resource beyond what is needed or utilized.

Quantity Supplied

In economic terms, this is the amount of a good or service that producers are willing and able to sell at a given price over a specific time period.

Surplus

The amount of an asset or resource that exceeds the portion used. In economics, it refers to a situation where supply exceeds demand.

Shortage

A situation in which demand for a good or service exceeds the available supply at the current price.