Basketball Team A Basketball Team at a University Is Composed of Ten

question 127

Multiple Choice

Basketball Team
A basketball team at a university is composed of ten players.The team is made up of players who play either guard,forward,or center position.Four of the ten are guards; four of the ten are forwards; and two of the ten are centers.The numbers of the players are 1,2,3,4,for the guards; 5,6,7,8 for the forwards; and 9 and 10 for the centers.The starting five are numbered 1,3,5,7,and 9.Let a player be selected at random from the ten.Define the following events:
A = player selected has a number from 1 to 8.
B = player selected is a guard.
C = player selected is a forward.
D = player selected is a starter.
E = player selected is a center.
-P(A) is equal to:

• A) 0.80.
• B) 0.40.
• C) 0.50.
• D) 0.20.
• E) 0.60.

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Definitions:

Industry Supply

The total amount of goods or services that producers in a specific industry are willing and able to sell at a given price level.

Long-Run Industry Supply

The relation between the price of a good and the total output produced by an industry once all adjustments have been made.

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs.

Economic Profits

Profits that exceed the costs of all inputs, including both explicit costs (like wages and materials) and implicit costs (like the opportunity cost of capital).