If 30 Tickets Are Sold and 2 Prizes Are to Be

question 49

Multiple Choice

If 30 tickets are sold and 2 prizes are to be awarded, find the probability that one person will win both prizes if that person buys exactly 2 tickets.

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Definitions:

Accounts Payable Balance

The total amount of money a company owes to its suppliers or creditors at a given point in time.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the material and labor costs.

Prior Quarter Sales

The total revenue generated by a business in the quarter immediately preceding the current one.

Accounts Payable

The amount of short-term debts or obligations a company owes to its suppliers or creditors.