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TABLE 4-8
According to the record of the registrar's office at a state university, 35% of the students are freshman, 25% are sophomore, 16% are junior and the rest are senior. Among the freshmen, sophomores, juniors and seniors, the portion of students who live in the dormitory are, respectively, 80%, 60%, 30% and 20%.
-Referring to Table 4-8, what is the probability that a randomly selected student is a freshman who lives in a dormitory?
Consumption
The process by which goods and services are utilized by individuals or groups to satisfy personal or collective needs or desires.
Production
The process of creating, manufacturing, or producing goods, services, or information, often involving a combination of labor, materials, and capital.
Legal entity
An organization or structure that is recognized by the law as capable of rights and duties.
Ethical standard
Ethical standard refers to the principles that guide moral conduct within a profession or organization, outlining acceptable behaviors and practices that ensure fair and just operations.
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