A Recent Market Study Has Determined That the Probability That

question 63

Multiple Choice

A recent market study has determined that the probability that a young adult will be willing to try a new online financial service that your company is offering is 50%.In a random sample of 10 young adults,the approximate probability that at least 2 but no more than 3 will be willing to try this new service is _________.

• A) 0.1575
• B) 0.1612
• C) 0.1775
• D) 0.1812
• E) 0.1975

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Definitions:

Incremental Value

The additional or extra value generated by taking a particular action, often compared to doing nothing or choosing an alternative.

Goodwill

An intangible asset that arises when a company acquires another business for more than the value of its tangible and identifiable intangible assets.

Fixed Assets

Long-term tangible assets that a company uses in its operations and that are not expected to be consumed or converted into cash within one year.

Long-Term Debt

Represents loans and financial obligations lasting over one year that a company owes and is recorded on its balance sheet.