A Sales Representative Makes a Sale at Approximately One-Third of the Businesses

question 2

Multiple Choice

A sales representative makes a sale at approximately one-third of the businesses he calls on. On a given day, he goes to four businesses. What is the probability that he will make a sale at all four businesses?

• A) \(\frac { 8 } { 27 }\)
• B) \(\frac { 2 } { 3 }\)
• C) \(\frac { 1 } { 12 }\)
• D) \(\frac { 1 } { 81 }\)
• E) \(\frac { 16 } { 81 }\)

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Definitions:

General Journal

A primary accounting record where financial transactions are entered before posting to ledger accounts.

General Ledger

The primary accounting record of a business which contains all the balance sheet and income statement accounts.

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Trial Balance

A ledger balance compilation sheet in bookkeeping, organizing debit and credit balances into columns that have equal totals.