Suppose That an Employer Plans to Hire Eight People from a Group

question 61

Multiple Choice

Suppose that an employer plans to hire eight people from a group of fourteen equally qualified people, of whom four are minority candidates. If the employer does not know which candidates are minority candidates, and if she selects her employees at random, what is the probability that exactly one minority candidate is hired? Round your answer to four decimal places. ​

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Definitions:

Capital Rationing

The process of selecting profitable projects to invest in, limited by the availability of funds.

NPV

Net Present Value, a financial metric used to evaluate the profitability of an investment, considering the time value of money.

Mutually Exclusive

Events or decisions that cannot occur or be taken simultaneously; selecting one option precludes the choice of the other.

Profitability Index

A financial metric used to evaluate the desirability of an investment or project, calculated as the present value of future cash flows divided by the initial investment cost.