A company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product. The length of waiting time was found to be a variable best approximated by an exponential distribution with a mean length of waiting time equal to 2.8 minutes (i.e. the mean number of calls answered in a minute is 1/2.8). What is
the probability that a randomly selected caller is placed on hold fewer than 7 minutes?
A) 0.9990881 B) 0.0009119 C) 0.917915 D) 0.082085
C
Business
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Cascade Industries Inc intends to pay a common stock dividend of $3.18 one year from today and the firm anticipates that the dividend will continue to grow at a rate of 2% per year indefinitely
If the firm has a 13% required rate of return, what is the current price per share of stock? A) $21.20 B) $28.91 C) $21.62 D) $29.49
Business
TRUE or FALSE: For distressed firms with both bank and public debt outstanding, banks never make concessions unless public debtholders also restructure their claims
a. TRUE b. FALSE
Business