If 90 Percent of Automobiles in Orange County Have Both

question 23

Multiple Choice

If 90 percent of automobiles in Orange County have both headlights working,what is the probability that in a sample of eight automobiles,at least seven will have both headlights working?

• A)0.6174
• B)0.3826
• C)0.8131
• D)0.1869

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Definitions:

Overvalued

A term describing a situation in which a security or an asset is trading at a price exceeding its intrinsic value.

Noncontrolling Interest

Noncontrolling interest, also known as minority interest, represents the portion of a subsidiary company’s equity that is not owned by the parent company.

Acquisition Method

An accounting technique used in consolidating the financial statements of a group of companies when one acquires control over the other.

Consolidated Net Assets

The total assets minus total liabilities of a company and its subsidiaries, reported as a single figure in consolidated financial statements.