A Manufacturing Process Has a 74% Yield,meaning That 74% of the Products

question 47

Multiple Choice

A manufacturing process has a 74% yield,meaning that 74% of the products are acceptable and 26% are defective.If three of the products are randomly selected,find the probability that all of them are acceptable.

• A)0.405
• B)0.222
• C)2.22
• D)0.548
• E)0.018

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Definitions:

Production Possibilities Curve

A visual depiction illustrating the highest possible mix of products or services that can be generated using a set amount of resources and technology within a specified timeframe.

Economy's Capacity

The maximum level of output that an economy can produce without leading to inflation, utilizing its available resources efficiently.

Opportunity Cost

The price paid for not selecting the next most favorable alternative during decision-making.

Attending College

Attending College refers to the act of enrolling in and attending an institution of higher education in pursuit of a degree or certificate.