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Used by companies to hedge exposures to cash flow risk, which results from the variability in cash flows. Companies account for derivatives used in cash flow hedges at fair value on the balance sheet, but they record gains or losses in equity, as part of other comprehensive income.

(a) arbitrageurs (b) cash flow hedge (c) Fair Value Adjustment (d) held-to-maturity securities

In a production run of 300 units, there are exactly 20 defective items and 280 good items

(a) What is the probability that a randomly selected item is defective? (b) If two items are sampled without replacement, what is the probability that both are good? (c) If two items are randomly sampled without replacement, what is the probability that the first is good but the second is defective?