A Shipping Company Has 2 Sizes of Box Each of Which

question 6

Multiple Choice

A shipping company has 2 sizes of box each of which is available in 2 colours. If the probability of a box being 'large' is 0.62 and the probability of a box being 'grey' is 0.34 what is the probability of the next box being 'large' and 'grey' (2 decimal places) ?

• A) 0.15
• B) 0.21
• C) 0.34
• D) 0.62

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Definitions:

Beginning Inventory

The value of goods available for sale at the start of an accounting period.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor used in their production.

Short-Term Obligations

Short-term obligations are debts or financial commitments that are due within a year.

Merchandise Inventory

Goods that a company holds for the purpose of sale to customers, typically reported as a current asset on the balance sheet.