Altman Develop the Z-Score Model for Publicly Traded Manufacturing Firms

Altman develop the Z-score model for publicly traded manufacturing firms. Using financial statement data and multiple discriminant analysis,he found that:

A) in actual use, a Z-score greater than 2.99 meant bankruptcy within one year.
B) in actual use, a Z-score greater than 1.81 implied a 90% chance of bankruptcy within one year.
C) in actual use, a Z-score of less than 1.81 would predict bankruptcy within one year.
D) in actual use, a Z-score less than 2.99 meant non-bankruptcy within one year.
E) None of these.

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