A Box Contains 27 Black and 3 Red Balls

question 40

Multiple Choice

A box contains 27 black and 3 red balls. A random sample of 5 balls is drawn without replacement. What is the probability that the sample contains one red ball?

• A) 0.108
• B) 0.270
• C) 0.369
• D) 0.500

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Definitions:

Average Product

The output per unit of input, calculated by dividing total output by the quantity of inputs used.

Production Possibilities

Different combinations of goods and services that an economy can produce efficiently with its available resources and technology.

Diminishing Returns

The principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.

Marginal Product

The increase in output resulting from a one-unit increase in the input of a production factor, holding all other inputs constant.