Probability is the
a. number of successes divided by the number of failures.
b. numerical measure likelihood that an outcome occurs.
c. chance that an event will not happen.
d. number of successes divided by the standard deviation of the distribution.
b
RATIONALE: Probability is the numerical measure likelihood that an outcome occurs.
You might also like to view...
Artificial Intelligence Inc. sells to Beta Bots Corporation a promising idea for a technological innovation that is still being developed and that looks very promising. This is
A. ethical and legal. B. unethical but legal. C. illegal and unethical. D. unethical and illegal.
Clarion Company, a new firm, manufactures two products, J and K, in a common process. The joint costs amount to $80,000 per batch of finished goods. Each batch results in 20,000 liters of output, of which 80% are J and 20% are K.The two products are processed beyond the split-off point, with Clarion incurring the following separable costs: J, $2 per liter; K, $5 per liter. After the additional processing, the selling price of J is $12 per liter, and the selling price of K is $15 per liter.Required:A. Determine the proper allocation of joint costs if the company uses the net-realizable-value method.B. Assume that Clarion sold all of its production of K during the current accounting period. Compute K's sales revenue, cost of goods sold, and gross margin.C. Is the firm's cost-of-goods-sold
figure influenced by the choice of a joint-cost allocation method? Briefly explain. What will be an ideal response?
Ryan Company purchased 80% of Chase Company for $270,000 when Chase's book value was $300,000. Ryan paid no premium. Chase has 50,000 shares outstanding and currently has a book value of $400,000.Assume Chase reacquired 8,000 shares of its common stock from outsiders at $10 per share.What is Ryan's percent ownership in Chase after the acquisition of the treasury shares (rounded)?
A. 69%. B. 80%. C. 64%. D. 95%. E. 76%.
Cirillo Corporation is considering a capital budgeting project that involves investing $660,000 in equipment that would have a useful life of 3 years and zero salvage value. The net annual operating cash inflow, which is the difference between the incremental sales revenue and incremental cash operating expenses, would be $350,000 per year. The company uses straight-line depreciation and the depreciation expense on the equipment would be $220,000 per year. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. The income tax rate is 30%. The after-tax discount rate is 6%. Required:Determine the net present value of the project. Show your work!
What will be an ideal response?