Does multishot "miss"

[the Langolier]

probability of hit on first monster = 1.00 - ((1.00-0.88) to the power of 25)

Not quite. Depending on where you are tagerted when you fire, only a few arrows collide with a monster and possibly hit. I would suspect that even with a tight spray of arrows, only 4 or 5 have a chance to hit. With 88% to hit, however, the chances are very high that an arrow will hit. Yes, only one arrow is allowed to hit per cast, so if the first arrow connects, the other 4 will pass through.