Fifty-Five Percent of the Students at Thomas Jefferson High School

question 30

Essay

Fifty-five percent of the students at Thomas Jefferson High School use "lunch cards" to charge their lunch, rather than bringing money to school. Assuming that the method of payment (cash or lunch card) for one student is independent of the method of payment for the next student in line, what is the probability of observing the following sequence for the first five students through the lunch line? Cash, Card, Cash, Card, Cash

---

Definitions:

Issued Bonds

Debt securities that a company or government has sold to investors to raise capital.

Premium on Bonds Payable

The excess amount over the face value that investors pay when they purchase a bond, representing an additional cost to the issuer.

Semiannual Interest

Interest payments made twice a year on a loan or investment.

Face Values

The nominal value or original amount stated on a financial instrument, such as a bond or a stock certificate.