Suppose That 3% of All TVs Made by Some Company

question 36

Multiple Choice

Suppose that 3% of all TVs made by some Company in 2012 are defective.If 2 of these TVs are randomly selected what is the probability that both are defective?

• A) 0.0009
• B) 0.0025
• C) 0.0900
• D) 0.0475
• E) 0.19

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Definitions:

Tenant

A tenant is an individual or entity that occupies land or property rented from a landlord under a lease agreement.

Adjusting Entry

An accounting record made to update the financial position of a company before financial statements are prepared.

Fiscal Period

A specific duration of time for which a business or government reports its financial performance, could be a quarter, a year, or any other defined period.

Salaries

Payments made to employees typically on a monthly or biweekly basis for their work or services.