A Company Is Producing Two Types of Ski Goggles

question 56

Multiple Choice

A company is producing two types of ski goggles.Thirty percent of the production is of type A,and the rest is of type B.Five percent of all type A goggles are returned within 10 days after the sale,whereas only two percent of type B are returned.If a pair of goggles is returned within the first 10 days after the sale,the probability that the goggles returned are of type B is

• A)0.014
• B)0.140
• C)0.070
• D)0.483

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Definitions:

Military Spending

Financial allocation by a government for the maintenance and operation of armed forces, including expenses related to salaries, equipment, training, and facilities.

Automatic Stabilizer

Economic policies and programs designed to offset fluctuations in a nation's economic activity without additional government action, such as progressive tax rates and unemployment benefits.

Government Purchases

Expenditures by government bodies on goods and services that directly absorb resources or services and are part of government consumption expenditure and gross investment.

Net Taxes

The difference between the total amount of taxes collected by the government and any transfers or subsidies it pays out.