David's Gasoline Station Offers 4 Cents Off Per Gallon If

question 54

Multiple Choice

David's gasoline station offers 4 cents off per gallon if the customer pays in cash and does not use a credit card. Past evidence indicates that 40% of all customers pay in cash. During a one-hour period,15 customers buy gasoline at this station. What is the probability that all 15 pay in cash?

• A)0.0
• B)0.1
• C)0.9
• D)1.0

---

Definitions:

Payments

Transactions involving the transfer of money or valuables in exchange for goods, services, or to fulfill obligations.

Cost Reimbursable Contract

A type of contract where the purchaser agrees to pay the supplier for actual costs incurred plus a fee or profit.

Fixed Fee

A pre-determined and agreed-upon total charge for a specific service or project, not subject to change based on the amount of time or resources used.

Critical To Project

Elements or factors that are essential for the successful completion of a project, without which the project cannot proceed or succeed.