At the University of Tough Love, Good Grades in Math

question 56

Essay

At the University of Tough Love, good grades in math are hard to come by. The
grade distribution is shown in the table below: $$\begin{array} { | c | c | c | c | c | c | } \hline \text { Grade } & \mathbf { A } & \mathbf { B } & \mathbf { C } & \mathbf { D } & \mathbf { F } \\\hline \text { Proportion } & 0.10 & 0.15 & 0.35 & 0.35 & 0.05 \\\hline\end{array}$$ Suppose three students' grade reports are selected at random with replacement. (The
math grade is written down and the report replaced in the population of reports before
the next report is selected.) Three possible outcomes of this experiment are listed
below. Calculate the probabilities of these sequences appearing. a) $\mathbf { A B C }$
b) $C C D$

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Definitions:

Transactions

Financial events or operations that result in a change to the accounting equation, affecting an entity's assets, liabilities, or equity.

Working Capital

An indicator of a company's short-term financial health, calculated as current assets minus current liabilities.

Quick Ratio

A liquidity measure that indicates a company's ability to pay its short-term liabilities with its most liquid assets, excluding inventory.

Current Ratio

Current Ratio is a liquidity ratio that measures a company’s ability to pay short-term obligations or those due within one year, calculated by dividing current assets by current liabilities.