What Value Would Be Needed to Complete the Following Probability

question 77

Multiple Choice

What value would be needed to complete the following probability distribution?
$\begin{array}{|l|l|}\hline x & P(x) \\\hline 0 & 1 / 3 \\\hline 1 & 1 / 8 \\\hline 2 & 1 / 8 \\\hline 3 & 1 / 6 \\\hline 4 & \\\hline\end{array}$

• A) \(1 / 5\)
• B) \(1 / 12\)
• C) \(1 / 4\)
• D) \(1 / 8\)

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Definitions:

FIFO

An inventory valuation method where the first items purchased or produced are considered the first sold, standing for First-In, First-Out.

Receiving Report

a document that records the details of goods received from a supplier, used to match against purchase orders and invoices.

Inventory Control

A system used to oversee and manage the ordering, storage, and use of inventory in a business.

Initial Record

Initial record refers to the first entry of a transaction into the accounting system. This record is crucial for maintaining the accuracy and integrity of financial data.