According to a Department of Labor Report,the City of Detroit

question 8

Multiple Choice

According to a Department of Labor report,the city of Detroit had a 20% unemployment rate in May of 2011.Eight working-age residents were chosen at random.What is the probability that exactly one of the residents was unemployed?

• A) 0.0419
• B) 0.1678
• C) 0.2936
• D) 0.3355

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Definitions:

Proxy Contest

A situation where competing groups of shareholders solicit votes from other shareholders to win control over the company's board of directors without intending to buy the company outright.

Controlling Seats

Positions of authority in a corporation's board of directors that allow for direct influence over the company's decisions.

Shareholders

Individuals or entities that own shares in a corporation, making them partial owners of the company.

Horizontal Merger

A merger between companies in the same industry, often aiming to reduce competition or achieve economies of scale.