Find the Probability Using the Binary Probability Formula

question 14

Multiple Choice

Find the probability using the binary probability formula. Round to four decimal places, if necessary.

• A)0.7001
• B)0.0025
• C)0.0058
• D)0.0005

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Definitions:

Judgmental

Relating to or involving the use of personal judgment or opinion to make decisions or form conclusions.

Technological Forecasts

Long-term forecasts concerned with the rates of technological progress.

Business Cycle

The natural rise and fall of economic growth that occurs over time, including periods of prosperity, recession, depression, and recovery.

Inflation Rates

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.