Instruction 5-6 from an Inventory of 48 New Cars Being Shipped to Shipped

question 29

Short Answer

Instruction 5-6
From an inventory of 48 new cars being shipped to local dealerships,corporate reports indicate that 12 have defective radios installed.
-Referring to Instruction 5-6,what is the probability out of the 8 new cars it just received that,when each is tested,no more than 2 of the cars have defective radios?

---

Definitions:

External Financing

Funds a company acquires from outside sources, such as bank loans, issuing bonds, or selling stock, to support its operations and growth initiatives.

Full Capacity

Full capacity refers to the maximum level of output that a company can sustain over a period, utilizing all available resources efficiently.

External Financing Needed

The amount of funding a company must seek from outside sources to finance its planned activities when internal cash flow is insufficient.

Profit Margin

This financial ratio measures the amount of net income earned with each dollar of sales by comparing net income to net sales.