The Vardon Exploration Company Is Getting Ready to Leave for South

question 21

Multiple Choice

The Vardon Exploration Company is getting ready to leave for South America to explore for oil. One piece of equipment requires 10 batteries that must operate for more than 2 hours. The batteries being used have a 15 percent chance of failing within 2 hours. The exploration leader plans to take 15 batteries. Assuming that the conditions of the binomial apply, the probability that the supply of batteries will not contain enough good ones to operate the equipment is:

• A) 0.0449
• B) 0.0132
• C) 0.9832
• D) 0.0168

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Definitions:

Exclusive Dealing

A practice where a supplier prohibits its customers from buying goods or services from its competitors.

Federal Trademark Dilution Act

A United States law that aims to protect famous trademarks from uses that dilute their distinctiveness, even without showing confusion or competition.

Madrid Protocol

An international treaty designed to simplify the process of applying for trademark protection in multiple countries through a single application.

Exclusive Territorial Distributorship

A business agreement granting one distributor the sole rights to sell a product or service within a specified geographic area.