Exhibit 5-11 the Random Variable X Is the Number of Occurrences of Occurrences

question 47

Multiple Choice

Exhibit 5-11
The random variable x is the number of occurrences of an event over an interval of ten minutes. It can be assumed that the probability of an occurrence is the same in any two time periods of an equal length. It is known that the mean number of occurrences in ten minutes is 5.3.
-Refer to Exhibit 5-11. The probability that there are 8 occurrences in ten minutes is

• A).0241
• B).0771
• C).1126
• D).9107

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Definitions:

Gross Sales

The total sales revenue of a company without any deductions for returns, allowances, or discounts.

Cost of Sales

The direct costs attributable to the production of the goods sold by a company, including raw materials, labor, and manufacturing overhead.

Percentage of Credit Sales Method

An accounting technique used to estimate the value of uncollectible accounts receivable based on a historical percentage of sales that resulted in bad debts.

Net Sales

The amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.