THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 222

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The amount of time you have to wait at a particular stoplight is uniformly distributed between zero and two minutes.
-What is the probability that you have to wait more than 30 seconds for the stoplight?

• A)0.25
• B)0.50
• C)0.75
• D)1.01

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Definitions:

Annual Rate of Return

The percentage of profit or loss on an investment over one year.

Accounting Data

Information and records concerning the financial transactions and status of a business, including ledgers, journals, financial statements, and more.

Time Value of Money

The idea that having money in the present is more valuable than having the same sum in the future because of its ability to generate earnings.

Salvage Value

The projected remaining worth of an asset when it reaches the end of its operational lifespan.