There Are Seven Blue and Six Black Socks in a Drawer

question 10

Multiple Choice

There are seven blue and six black socks in a drawer. One is pulled out at random. Find the probability that it is black.

• A) 6/13
• B) 6/7
• C) 1/2
• D) 1/6

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Definitions:

Market Basket

A collection of goods and services used to monitor price changes for consumer expenditures, often used in calculating inflation indices.

Base Year

A specific year against which economic growth is measured, serving as a benchmark for real value comparisons over time.

Price Indexes

Price indexes are statistical measures that reflect the average change in prices over time of a basket of goods and services, used to gauge inflation or deflation in an economy.

Nominal GDP

The total value, in current market prices, of all the final goods and services generated within a country's borders over a certain time period.