Carlson Jewelers Permits the Return of Their Diamond Wedding Rings

question 42

Multiple Choice

Carlson Jewelers permits the return of their diamond wedding rings, provided the return occurs within two weeks of the purchase date. Their records reveal that 10 percent of the diamond wedding rings are returned. Five different customers buy five rings. What is the probability that all will be returned?

• A) 0.00250
• B) 0.59049
• C) 0.00590
• D) 0.00045
• E) 0.00001

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Definitions:

Absenteeism

Absenteeism refers to the habitual non-presence of an employee at their job without a valid reason, often affecting productivity and morale.

Anchoring Effect

The inadequate adjustment of subsequent estimates from an initial estimate that serves as an anchor.

Anchoring Effect

A cognitive bias where an individual relies too heavily on an initial piece of information (anchor) when making decisions.

Anchoring Effect

A cognitive bias where an individual's decisions or estimates are influenced by an initial piece of information (anchor).