A Section of an Exam Contains Two Multiple-Choice Questions, Each

question 106

Multiple Choice

A section of an exam contains two multiple-choice questions, each with three answer choices (listed "A", "B", and "C") . Assuming the outcomes to be equally likely, find the
Probability (as a reduced fraction) that both answers are "C". [Hint: List all the outcomes
Of the sample space first.]

• A) 1/9
• B) 1/27
• C) 1/3
• D) 1/6

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Definitions:

Common Stock Account

An equity item on the balance sheet representing funds raised by issuing common shares.

Current Market Price

The price at which an asset or security is traded in the market at the present moment.

Current Liabilities

Obligations or debts of a company that need to be settled with creditors within a twelve-month period.

Twelve Months

A period of one year, often used in financial statements to provide a snapshot of a company's performance.