Suppose That Five of the Eight Students Running for Class

question 1

Multiple Choice

Suppose that five of the eight students running for class officers (president, vice president, secretary, and treasurer) have grade-point averages (GPAs) above 3.0. If the officers are selected at random, what is the probability that all four officers will be students with GPAs above 3.0? ​

• A)Pr(GPA > 3.0) =
• B)Pr(GPA > 3.0) =
• C)Pr(GPA > 3.0) =
• D)Pr(GPA > 3.0) =
• E)Pr(GPA > 3.0) =

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Definitions:

Pro Forma Statements

Financial statements that project a company's financial performance based on hypothetical scenarios or future projections.

Percentage of Sales Approach

A financial forecasting method where various financial statement items are predicted as a percentage of sales.

Retained earnings

Earnings accumulated by a company up to the present moment, subtracting any dividends or payouts made to investors.

Sustainable Growth Rate

The maximum rate at which a company can grow its sales, earnings, and dividends without incurring new debt.