Four workers at a fast food restaurant pack the take-out chicken dinners. John packs 45% of the dinners but fails to include a salt packet 4% of the time. Mary packs 25% of the dinners but omits the salt 2% of the time. Sue packs 30% of the dinners but fails to include the salt 3% of the time. You have purchased a dinner and there is no salt
a. Find the probability that John packed your dinner.
b. Find the probability that Mary packed your dinner.
a. 0.5625
b. 0.15625
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Lincoln Corp received advance payments from customers during 2016 of $10,000 . At December 31, 2016, $1,000 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2016, the balances in the Unearned Service Revenue and Service Revenue accounts will be Unearned Service Revenue Service Revenue
a. $ 1,000 $ 9,000 b. $ 1,000 $10,000 c. $11,000 $ 1,000 d. $ 9,000 $10,000
When a project manager must reduce project duration but resources are constrained, creating a software program that will have fewer features than originally planned or building a house without the bonus room the owner originally specified in the plans would both be examples of
A. Doing it twice-first fast and then correctly. B. Reducing project scope. C. Compromising quality. D. Fast-tracking. E. Using critical-chain project management.
The pricing objective of maximizing profits
A) has not been affected by other, more socially focused concerns. B) is to be implemented under any and all circumstances. C) has not always been considered the underlying objective of any pricing policy. D) must be considered when determining the price needed to increase market share.
Discuss the revenue recognition principle and how the terms “critical event,” “earned,” “realized,” and “realizable” apply to revenue recognition.
What will be an ideal response?