Thirty Percent of the CFA Candidates Have a Degree in Economics

question 140

Multiple Choice

Thirty percent of the CFA candidates have a degree in economics. A random sample of three CFA candidates is selected. What is the probability that none of them has a degree in economics?

• A) 0.027
• B) 0.300
• C) 0.343
• D) 0.900

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Definitions:

Inputs

The resources used in the production process, such as labor, raw materials, and capital equipment.

Output Per Day

The total quantity of goods or services produced by an entity in a single day.

Production Function

An equation or model showing the maximum output that can be produced with a given set of inputs, expressing the relationship between inputs and outputs in the production process.

Isoquant

A curve that represents all combinations of inputs that produce the same level of output in production theory.