On Average a Taxi Firm Has 1

question 10

Multiple Choice

On average a taxi firm has 1.5 breakdowns every 2 weeks. Find the probability that there will be 1 or 2 breakdowns in a 4 week period.

• A) 34.2%
• B) 35.6%
• C) 36.1%
• D) 37.3%

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Definitions:

Short-term Investments

Financial instruments or securities that are expected to be sold or converted into cash typically within a year or less.

Long-term Investments

Investments in other companies, real estate, or securities that a company intends to hold for more than one fiscal year.

Cash Invest

The process of committing money or capital to an endeavor with the expectation of obtaining an additional income or profit.

Semiannual Interest

Interest calculated or paid twice a year on loans, bonds, or savings accounts.