Put 4 against 4. If equal then other ball weighs more. If one weighs more just discard the other side and subdivide. Should take 3 weighings max.
above answer takes 2 readings (2 weighings of 4 balls) 1/9 of the time and 6 readings (2 weighings each weighing round) 8/9 of the time --> expected readings is 5.5 If you just pick up 1 ball at a time --> expected readings is 5
Original answer does not lead to 5.5 expected readings... Minimum readings = 1 - Maximum readings = 4
The issuance of shares should not change the value of the enterprise. But paying a dividend will decrease the value
Enterprise Value = Equity Value + Net Debt If a company issues more shares, it's equity value increases. However, if the cash produced is immediately being given out via dividends, then Net Debt decreases because Net Debt = Total Debt - Cash. So, if Net Debt decreases and Equity Value increases, the Enterprise Value will remain unchanged.
Weigh 3 balls, then weigh 3 more. If the 2 weightings are identical then the lighter ball has not yet been weighed, so replace one ball until you find it. If one of the weightings is lighter, go back to that configuration and remove one ball at a time until you see an inconsistent drop in weight.
I’ve been interested in working for an Investment Bank..ever since I thought of coming to Canada. I’m very passionate about Banking Industry specially the operations analyst role, and this role would let me align my passions with my work experience for a company that I really believe in.
List the components of a discounted cash flow model (Revenue - royalties - opex + D&A - taxes) and the assumptions needed. Discount to present value and divide by diluted outstanding shares to get fundamental value.