It Is Known That 10% of the Calculators Shipped from a Particular

question 136

Multiple Choice

It is known that 10% of the calculators shipped from a particular factory are defective. What is the probability that at least one in a random sample of four calculators is defective?

• A) 0.0010
• B) 0.2916
• C) 0.3439
• D) 0.6561

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Definitions:

Cost of Inventory

The total cost incurred to acquire stock items that are intended for resale, including purchase price, freight, and handling fees.

Physical Inventory

An actual count of all the goods on hand at the end of an accounting period.

Single-Step Income Statement

A simplified financial statement format that calculates net income by subtracting total expenses from total revenues in one step.

Statement of Stockholders' Equity

A financial document that shows changes in the equity section of a company's balance sheet, including stock transactions and retained earnings.