Your Car (Like Most Cars) Has Four Tires

question 110

Multiple Choice

Your car (like most cars) has four tires.Each tire has a 5% chance of running low on air in the morning.Assume that the state of one tire has no relationship to the state of the others.Use the binomial probability function to determine the probability that no more than one tire will be running low on air tomorrow morning.

• A)0.171
• B)0.814
• C)0.900
• D)0.986
• E)0.450

---

Definitions:

Saving

The portion of income not spent on current consumption, but rather set aside for future use or investment.

Trillion

A numerical value represented as 1,000,000,000,000 or 10^12, commonly used to quantify large sums, such as government budgets and the global economy.

APC

The Average Propensity to Consume calculates the portion of income that families allocate towards consumption as opposed to savings.

United States

A country located in North America, known for its large economy and diverse population, consisting of 50 states and a federal district.