Probability of Selecting a Type B Widget

A factory produces three types of widgets: Type A, Type B, and Type C. In a given month, the factory produced 200 Type A widgets, 150 Type B widgets, and 50 Type C widgets. If a widget is selected at random, what is the probability that it is a Type B widget?

Use the formula for probability, which is defined as:

$$ P(A) = \frac{\text{Number of favorable outcomes}}{\text{Total number of outcomes}} $$