Last Year, 1,394 Calculators Were Returned to the Manufacturer $0.03$ B) About

question 156

Multiple Choice

Last year, 1,394 calculators were returned to the manufacturer. If 72,000 were produced, assign a number to specify the probability that a particular calculator would be returned. Give the probability in decimal form (correct to two decimal places) .

• A) about \(0.03\)
• B) about \(0.06\)
• C) about \(0.19\)
• D) about \(0.02\)
• E) about \(0.04\)

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Definitions:

Nash Equilibrium

Nash Equilibrium is a concept within game theory where no participant can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.

Simultaneous Game

A game in game theory where all players make decisions or choose strategies at the same time without knowledge of the others' choices.

Utility

A measure of satisfaction, usefulness, or pleasure derived from consuming goods and services.

Efficient Outcome

A situation in economics in which resources are allocated in the most effective manner, maximizing the potential benefit to an economy or market without wasting resources.