THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING

question 60

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING:
The probability that a person catches a cold during the cold and flu season is 0.4.Assume that 10 people are chosen at random.
-What is the probability that four or more of them will catch a cold?

• A)0.715
• B)0.618
• C)0.546
• D)0.312

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Definitions:

Economic Profit

The split between entirety of income and the full scope of expenditures, considering both clear and implicit financial obligations.

Production Techniques

Methods and processes used in the creation of goods and services, influenced by technology, labor skills, and resource availability.

Labor and Capital

The primary factors of production where labor refers to human effort and capital represents buildings, machinery, and equipment.

Fundamental Questions

The basic economic questions that every society must answer, which include what to produce, how to produce, and for whom to produce.