Suppose That During a Given Week, 20 New Customers Have

question 55

Multiple Choice

Suppose that during a given week, 20 new customers have signed up for a specialized service your company provides.Eight of these new customers are automotive companies, and the remaining twelve are financial services firms.If a random sample of 5 of these new customers will be selected for a study of customer satisfaction in one month, what is the probability that 2 of the selected customers are financial services firms?

• A)0.232
• B)0.234
• C)0.236
• D)0.238
• E)0.240

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Definitions:

Basic Element

A fundamental or essential component or aspect of something.

Consideration

In contract law, a basic requirement for an enforceable agreement under traditional contract principles, defined in this text as legal value, bargained for and given in exchange for an act or promise. In corporation law, cash or property contributed to a corporation in exchange for shares, or a promise to contribute such cash or property.

Capacity

The ability to incur legal obligations and acquire legal rights.

Offer

A proposal by one person to another that is intended to create legal relations on acceptance by the person to whom it is made.