Examlex
Determine the number of outcomes in the event. Then decide whether the event is a simple event or not. Explain your
reasoning.
-You randomly select a computer from a batch of 50 which contains 3 defective computers. Event B is selecting a defective computer.
Funding
The act of providing financial resources, usually in the form of money, or other values such as effort or time, to finance a need, program, and project, usually by an organization or government.
Cost
The expenditure incurred in the production of goods or services, including time, labor, materials, and financial resources.
Technological Advance
The development and application of innovative tools, machines, materials, and processes that improve efficiency and productivity.
Allocative Efficiency
A state of resource allocation in which it is impossible to make anyone better off without making someone else worse off, often achieved when the value placed on goods and services by consumers is aligned with the costs of producing them.
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