Tomorrow Freddy Is Playing in an Important Soccer Game $1 / 3$

question 149

Essay

Tomorrow Freddy is playing in an important soccer game. He reasons that there are three possible outcomes
(they could win, tie, or lose) so the probability of winning must be 1 $1 / 3$ /3. Is this reasoning correct? Why or why
not?

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Definitions:

Consolidated Statement

A financial report that combines the financial results of a parent company and its subsidiaries, presenting the financials as a single entity.

Consolidated Net Income

The total net income of a parent company and its subsidiaries after adjusting for inter-company transactions and minority interests, presented in consolidated financial statements.

Dividends

Money given by a business to its owners, often sourced from the firm's profits.

Financing Activities

Cash flow activities related to raising capital and repaying shareholders, including issuing debt, selling equity, dividends, and repaying debt.