Let's Assume You Are Having a Party and Have Stocked

question 3

Multiple Choice

Let's assume you are having a party and have stocked your refrigerator with beverages. You have 12 bottles of Coors beer, 24 bottles of Rainier beer, 24 bottles of Schlitz light beer, 12 bottles of Hamms beer, 2 bottles of Heineken dark beer and 6 bottles of Pepsi soda. You go to the refrigerator to get beverages for your friends. In answering the following question assume you are randomly sampling without replacement. What is the probability your first three bottles selected are Pepsi's?

• A) 0.00044
• B) 0.00024
• C) 0.1875
• D) 0.2250

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Definitions:

U.S. Dollar

The official currency of the United States of America, widely used as a benchmark and reserve currency globally.

Income Statement

A financial statement that shows a company’s revenue and expenses over a specific period, leading to the net income or loss for that period.

Functional Currency

Functional currency is the main currency used by a business or economic entity in its primary economic environment for accounting purposes.

Straight-Line Method

A method of accounting for depreciation by equally spreading the cost of an asset over its useful life.