THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING

question 69

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING:
70% of the customers at the local ice cream shop order their ice cream on a sugar cone.Assume that the next ten customers order independently of one another.
-What is the probability that more than half of them order sugar cones?

• A)0.95
• B)0.85
• C)0.05
• D)0.15

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Definitions:

Factory Overhead

Factory overhead encompasses all indirect costs related to manufacturing, such as utilities, maintenance, and management salaries.

Surplus

An excess of income or assets over expenditure or liabilities in a given period, typically a financial year.

Supervisory Cost

Supervisory cost involves expenses related to overseeing and directing operations or employees within a company, often including salaries of supervisors and related overhead.

Direct Materials

Raw materials that can be directly attributed to the production of specific goods or services and are a significant component of manufacturing costs.