Find the Odds Against Correctly Guessing the Answer to a Multiple

question 138

Multiple Choice

Find the odds against correctly guessing the answer to a multiple choice question with 3 possible answers.

• A) 3 : 1
• B) 2 : 1
• C) 3 : 2
• D) 2 : 3

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Definitions:

Common Fixed Expenses

Overhead costs that do not fluctuate with the level of production or sales, such as rent, salaries of administrative staff, and insurance.

Net Operating Income

The total profit of a company after operating expenses are deducted from operating revenues, but before deducting taxes and interest.

Salaried Estimator

A professional responsible for projecting costs and expenses, who is compensated with a fixed annual salary rather than hourly wages.

Break-Even

The point at which total costs equal total revenue, meaning no net loss or gain is incurred.