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Wow. haha i never thought id ever have to use probability [#permalink]
25 Feb 2008, 16:55
Wow. haha i never thought id ever have to use probability but i was wrong.
Heres a relatively easy probability problem from a CFA question. The CFA is my next hurdle now. All I gotta say is thank you GMAT.
For a certain class of junk bonds, the probability of default in a given year is 0.2. Whether one bond defaults is independent of whether another bond defaults. For a portfolio of five of these junk bonds, what is the probability that zero or one bond of the five defaults in the year ahead? a) .5904 b) .0819 c) .4096 d) .7373