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The JO Supplies Company Buys Calculators from a Foreign Supplier

question 10

Essay

The J.O. Supplies Company buys calculators from a foreign supplier. The probability of a defective calculator is 10%.
-If 3 calculators are selected at random,what is the probability that exactly one of the calculators will be defective?


Definitions:

Consumption

The act of using goods and services for personal needs or satisfaction, often analyzed in economics to understand spending patterns and behaviors.

Marginal Social Benefit

The additional benefit to society as a whole from producing one more unit of a good or service.

Individual Marginal Benefits

The additional satisfaction or utility that an individual gains from consuming one more unit of a good or service.

Consumer

An individual or group that purchases goods or services for personal use.

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