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Questions 1:
When flipping three coins simultaneously, the number of outcomes that contain at least two heads is most likely:
A、 eight.
B 、four.
C、 three.
Questions 2:
A company has an unsecured line of credit and needs to maintain its EBITto-interest coverage ratio greater than 2.0. Its EBIT is estimated to be between $36 million and $48 million, with all values equally likely. If the forecasted interest charge for the year is $20 million, the probability that EBIT/interest will be more than 2.0 is closest to:
A、 61.5%.
B、 33.3%.
C 、66.7%
B is correct. The number of outcomes having at least two heads is four, as indicated in the following table.
A is incorrect. The outcome of at least one head is calculated instead.
C is incorrect. The outcome of (H,H,H) is not counted.
C is correct. The EBIT-to-interest ratio is equal to 2.0 when the EBIT is $40 million. Given that the values between $36 million and $48 million are equally likely, the probability of the ratio being equal to or less than 2.0 is 33.3% (= [$40 million – $36 million]/[$48 million – $36 million]). Consequently, the probability of the ratio being greater than 2.0 is 66.7% (i.e., 1 – Probability of the ratio being equal to or less than 2.0). A is incorrect. This treats the distribution as discrete with increments in $1M.
B is incorrect. This is the probability of the ratio being equal to or less than 2.0. Common Probability Distributions
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