A Six-Sided Die Is Tossed 3 Times

question 92

Multiple Choice

A six-sided die is tossed 3 times. The probability of observing three ones in a row is

• A)1/3
• B)1/6
• C)1/27
• D)1/216

Grasp the basic principles of relevant revenues and costs in decision making.

Understand the implications of accepting special orders on company operations.

Comprehend the concept of sunk costs and how they influence financial decisions.

Apply cost concepts in product pricing, including markup and target costing.

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Definitions:

Mature Products

Products that have reached the end of their growth phase in the product life cycle, characterized by stable sales and minimal innovation.

Stable Demand

A market condition where the desire for a product or service remains consistent over a period of time, unaffected by short-term fluctuations.

Collaborative Forecasting

A process where multiple stakeholders, often from different levels of the supply chain, work together to predict future demand or trends.

Forecast Error

The difference between the actual outcome and the predicted outcome, often used in the context of demand forecasting in supply chain and finance.