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Alice Zhong Is the VP of Operations at Pearl Financial

question 45

Multiple Choice

Alice Zhong is the VP of operations at Pearl Financial Services.She wants to measure customer satisfaction after a new website and other changes were introduced a few months ago.28% of clients are from the healthcare industry,35% are manufacturing companies,27% are financial firms,and 7% are construction companies.For this purpose,she gets random five-digits numbers from the website random.org (which offers true random numbers on the Internet) .Then she uses these numbers to select 140 random clients from the healthcare sector,175 from the manufacturing sector,135 from the manufacturing sector,and 35 from the construction sector.This is an example of ______.

Distinguish between different types of probabilities (posterior, joint, marginal) and know their applications.

Apply probability concepts to real-world scenarios and understand their practical implications.

Use Venn diagrams to visually represent events and their probabilities.

Develop problem-solving skills by applying probability theory to diverse situations.

Definitions:

Construction

The process of building or assembling infrastructure, buildings, or other substantial physical structures.

Overhaul

A comprehensive process of inspection and repair to ensure an equipment or system operates efficiently.

Double-declining-balance Method

A method of depreciation that accelerates the depreciation of an asset by applying a fixed rate to its declining book value.

Straight-line Method

A depreciation method that allocates the cost of an asset evenly over its useful life, resulting in a constant annual depreciation expense.