A Multiple-Choice Test Has 28 Questions and 3 Choices for Each

question 100

Multiple Choice

A multiple-choice test has 28 questions and 3 choices for each question. If a student is totally unprepared and guesses on each question, what is the probability that she will answer 15 questions correctly? Round your answer to four decimal places. ​

• A)0.0067
• B)0.0134
• C)0.0089
• D)0.0149
• E)0.0206

Understand the structure and elements of the circular-flow diagram in economics.

Identify the role of households and firms in the circular-flow diagram.

Recognize the factors of production and their significance in the economy.

Comprehend the concept of the production possibilities frontier and its implications.

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Definitions:

Return on Assets

A measure of a company's profitability relative to its total assets, indicating how efficiently a company uses its assets to generate earnings.

Cost of Borrowing

The total charges, including interest and any other fees, that a borrower pays to secure and use borrowed money.

Acid-Test Ratio

A financial metric that measures a company's ability to meet its short-term obligations with its most liquid assets.

Working Capital

Current assets less current liabilities.