A Law Firm Has 3 Partners

question 157

Multiple Choice

A law firm has 3 partners. The first partner owns of the business, the second partner owns of the business and the third partner owns of the business. The business is worth $1.5 million. A new partner is introduced who contributes an additional $300,000 and owns of the total value of the new business. What are the new values for the first to the third original partners?

• A)1-$476000, 2-$540000, 3-$424000
• B)1-$526000, 2-$590000, 3-$424000
• C)1-$576000, 2-$540000, 3-$324000
• D)1-$576000, 2-$450000, 3-$414000
• E)1-$576000, 2-$490000, 3-$424000

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Definitions:

Z Score

A statistical gauge that measures how a value compares to the average of a set of values by counting the number of standard deviations it falls from the mean.

Standard Score

A score that expresses the number of standard deviations a datum is from the mean of the distribution.

Normal Curve

A symmetrical, bell-shaped curve that describes the distribution of many types of data where most values cluster around the mean.

Z Score

A quantifier that assesses a value's deviation from the dataset's mean, represented in the scale of standard deviations.