The Probability Distribution for the Number of Automobiles Lined Up

question 85

Multiple Choice

The probability distribution for the number of automobiles lined up at a Lakeside Olds dealer at opening time (7:30 a.m.) for service is: On a typical day, how many automobiles should Lakeside Olds expect to be lined up at opening time?

• A) 10.00
• B) 1.00
• C) 2.85
• D) 1.96

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Definitions:

Cash Dividend

A cash distribution given to shareholders from the company's earnings.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and stockholders' equity at a specific point in time.

Net Sales

The revenue from goods or services sold after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Cost of Goods Sold

The specific expenses borne for the production of products a company sells, covering materials and workforce.