One Card Is Randomly Drawn from a Standard Deck of Playing

question 77

Multiple Choice

One card is randomly drawn from a standard deck of playing cards where aces are not considered numbered cards and are the highest card in the suit.The card is replaced and another card is drawn.What is the probability that both cards drawn are diamonds?

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Definitions:

Accounting Rate of Return

A financial ratio used to measure the profitability of an investment, calculated as the average annual profit divided by the initial investment cost.

After-Tax Net Income

The amount of money a company earns in a given period after all taxes have been deducted from gross income.

Net Present Value

A financial metric that calculates the difference between the present value of cash inflows and the present value of cash outflows over a period of time, used to assess the profitability of investments.

Future Cash Flows

The projected amounts of money expected to be received or paid out by an entity over future periods as a result of investment, operational, and financing activities.