Historically,2 Percent of the Stray Dogs in Southfield Are Unlicensed

question 90

Multiple Choice

Historically,2 percent of the stray dogs in Southfield are unlicensed.On a randomly chosen day,the Southfield city animal control officer picks up seven stray dogs.What is the probability that fewer than two will be unlicensed?

• A)0.8681
• B)0.9921
• C)0.3670
• D)0.0076

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Definitions:

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, homogeneous products, free entry and exit, and perfect information, leading to zero economic profit in the long run.

Standardized Product

Goods or services that are uniform in quality and performance across different producers and can be easily substituted for one another.

Breakfast Cereal

A type of food made from processed grains, often eaten as the first meal of the day.

Perfectly Competitive

A market system where there are numerous buyers and sellers, unrestricted entry and departure, and a uniform product.