Suppose the Outcomes of Births Within a Given Family Are

question 37

Multiple Choice

Suppose the outcomes of births within a given family are independent of each other, and a couple has already had four boys.Which of the following best describes the probability that their next baby will be a girl?

• A)Approximately 50%
• B)Much less than 50%
• C)Much greater than 50%
• D)Not enough information to tell

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Definitions:

Effect On Income

The impact of specific actions, events, or decisions on a company's net income or profitability.

Book Value

Book value is the net value of a company's assets as reported on the balance sheet, calculated by subtracting liabilities from the total assets.

Salvage Value

The estimated residual value of an asset at the end of its useful life, used in calculating depreciation.

Market Value

Market value is the price at which an asset would trade in a competitive auction setting, reflecting what a buyer is willing to pay.