A market-research group specializes in providing assessments of the prospects of sites for new children’s toy stores in shopping centers. The group assesses prospects as good, fair, or poor. The records of assessments
made by this group were examined, and it was found
that for all stores that had annual sales over $1,000,000,
the assessments were good for 70%, fair for 20%, and
poor for 10%. For all stores that turned out to be unsuccessful, the assessments were good for 20%, fair for
30%, and poor for 50%. It is known that 60% of new
clothing stores are successful and 40% are unsuccessful.
M03_NEWB5034_09_GE_C03.indd 146 25/05/19 6:49 AM
Chapter Exercises and Applications 147
a. For a randomly chosen store, what is the probability that prospects will be assessed as good?
b. If prospects for a store are assessed as good, what
is the probability that it will be successful?
c. Are the events “prospects assessed as good”
and “store is successful” statistically independent?
d. Suppose that five stores are chosen at random.
What is the probability that at least one of them
will be successful?

Select the correct answer the smith family adopted a child. the adoption procedure took about three months, and the family incurred various expenses. will the smiths receive and financial benefit for the taxable year? a) they will not receive any financial benefit for adopting the child b) their income tax component will decrease c) they will receive childcare grants d) they will receive a tax credit for the cost borne for adopting the child e) they will receive several tax deductions

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

When you hire an independent contractor you don't have to pay the contractors what