One Hundred Lottery Tickets Have Been Sold

question 44

Multiple Choice

One hundred lottery tickets have been sold.You've purchased 30 tickets.What is the probability of one of your tickets being randomly selected?

• A)0.03
• B)0.01
• C)0.30
• D)0.60

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Definitions:

Direct Materials

Materials that can be directly linked to the production process and form a fundamental component of the final product.

Direct Labor-Hours

The cumulative hours that employees actively participating in manufacturing processes have worked.

Predetermined Overhead

An estimated rate used in manufacturing to allocate overhead costs to products or services based on a certain activity measure.

Predetermined Overhead

An estimated overhead cost determined before the period begins for the purpose of allocating overhead costs to products or services in a more consistent manner.