THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 143

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
James' Surfboard Shop makes surfboards by hand.The number of surfboards that James makes during a week depends on the wave conditions.James has estimated the following probabilities for surfboard production for the next week.

Let A be the event that James produces more than seven surfboards.Let B be the event that James produces exactly six surfboards.
-What is the probability of the complement of A?

---

Definitions:

Financial Leverage

The use of borrowed funds in an attempt to increase the returns to equity.

Fixed Costs

For expenses like rent, salaries, and insurance premiums, their amounts do not fluctuate with the levels of output or sales.

Variable Costs

Costs that change in proportion to the level of goods or services produced by a business.

EPS

Earnings Per Share, a financial metric that divides a company's profit by the number of its outstanding shares to indicate the company's profitability on a per-share basis.