Suppose That 3% of All TVs Made by a Company

question 40

Multiple Choice

Suppose that 3% of all TVs made by a company in 2018 are defective.If 2 of these TVs are randomly selected what is the probability that both are defective?

• A)0.0009
• B)0.0025
• C)0.0900
• D)0.0475
• E)0.19

---

Definitions:

Balance

This term can refer to the difference between total debits and total credits in an account, or to achieving a state of equilibrium in various contexts such as financial planning, work-life balance, etc.

Payments

Payments are the transfers of money or the consideration of goods or services from one individual or entity to another.

Gold Standard

A historical system of fixed exchange rates in which nations defined their currency in terms of gold, maintained a fixed relationship between their stock of gold and their money supplies, and allowed gold to be freely exported and imported.

Current Account

The section of a nation’s international balance of payments that records its exports and imports of goods and services, its net investment income, and its net transfers.