In a Study Conducted by UCLA,it Was Found That 25

question 116

Multiple Choice

In a study conducted by UCLA,it was found that 25% of college freshmen support increased military spending.If 6 college freshmen are randomly selected,find the probability that: Fewer than 4 support increased military spending

• A).0330
• B).7844
• C).9624
• D).9954

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Definitions:

Variable Inputs

Resources used in production that vary with the level of output, such as raw materials.

Short-Run

A period of time in economics where at least one input is fixed, limiting the ability to fully adjust to market changes.

Gasoline Costs

Expenses related to the purchase of gasoline, often significant for individuals and businesses relying on transportation.

Fixed Costs

Fixed costs, which are unaffected by the volume of production or sales, encompassing charges like lease payments, employee salaries, and insurance fees.