Carlson Jewelers Permits the Return of Their Diamond Wedding Rings,provided

question 27

Multiple Choice

Carlson Jewelers permits the return of their diamond wedding rings,provided the return occurs within two weeks of the purchase date. Their records reveal that 10% of the diamond wedding rings are returned. Five different customers buy a wedding ring. What is the probability that none of the customers return a ring?

• A)0.250
• B)0.073
• C)0.590
• D)0.500

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Definitions:

Formalization

Pertains to the extent to which rules, procedures, instructions, and communications are written down and standardized within an organization.

Specialization

Specialization is the process of focusing on and becoming an expert in a particular subject or skill.

Standardization

The process of implementing and developing technical standards to ensure consistency, reliability, and safety in products, services, or systems.

Integration

The process of combining or coordinating separate parts or elements into a unified whole, often used in the context of social, cultural, or organizational efforts.