A Multiple Choice Test Has 7 Questions Each of Which

question 132

Multiple Choice

A multiple choice test has 7 questions each of which has 5 possible answers, only one of which is correct. If Judy, who forgot to study for the test, guesses on all questions, what is the probability That she will answer exactly 3 questions correctly?

• A) 0.115
• B) 0.885
• C) 0.275
• D) 0.00800

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Definitions:

Operating Capacity

The maximum output a company can produce using its current resources without compromising quality or efficiency.

Sales Projection

An estimate of the sales revenue that a company expects to achieve in a future period.

Retained Earnings

Profits that a company has kept or retained rather than distributed to shareholders in the form of dividends.

Debt to Equity Ratio

A measure of a company's financial leverage calculated by dividing its total liabilities by shareholder equity, indicating the proportion of equity and debt used to finance a company's assets.