Cars Arrive Randomly at a Tollbooth at a Rate of 20

question 98

Multiple Choice

Cars arrive randomly at a tollbooth at a rate of 20 cars per 10 minutes during rush hour. What is the probability that exactly five cars will arrive over a five-minute interval during rush hour?

• A) 0.0378
• B) 0.0500
• C) 0.1251
• D) 0.5000

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Definitions:

Financing

The act of providing funds for business activities, making purchases, or investing, including methods such as loans, equity investment, and other mechanisms of raising capital.

Presentation Currency

The currency in which financial statements are presented by a company.

Management Choice

The discretion allowed to company management in selecting among various allowed accounting methods and policies in reporting financial information.

Accounting Standards

Rules and guidelines set by regulatory bodies that dictate how financial transactions and accounting practices should be recorded and reported.