Question

In: Statistics and Probability

A corporation must appoint a president, chief executive officer (CEO). chief operating (COO), and chief financial...

A corporation must appoint a president, chief executive officer (CEO). chief operating (COO), and chief financial officer (CFO). It must also appoint a planning committee with three different members. There are 13 qualified candidates, and officers can also serve on the committee. Complete parts a through c below.

A. How many different ways can the officers be appointed?

B. How many different ways can the committee be appointed?

C. What is the probability of randomly selecting the committee members and getting a specific group of the qualified candidates? P(getting a specific group of the qualified candidates) = ?

Solutions

Expert Solution

Answer: A corporation must appoint a president, chief executive officer (CEO). chief operating (COO), and chief financial officer (CFO). It must also appoint a planning committee with three different members. There are 13 qualified candidates, and officers can also serve on the committee.

Solution:

A. How many different ways can the officers be appointed?

There are four officers selected from 13 qualified members.

n = 13

r = 4

Using the formula of permutation:

nPr = n!/(n-r)!

13P4 = 12!/(12-4)!

13P4 = 17160

Therefore, thereare 17160 different ways to appoint the officer.

B. How many different ways can the committee be appointed?

There are 3 members selected from 13 qualified members.

n = 13

r = 3

13P3 = 286

Therefore, there are 286 different ways to appoint committee.

C. What is the probability of randomly selecting the committee members and getting a specific group of the qualified candidates?

P(getting a specific group of the qualified candidates) = 1/286 = 0.003497.

Therefore, probability of getting a specific group of the qualified members is 0.0035.


Related Solutions

A corporation must appoint a president, chief executive officer(CEO), chief operating officer (COO), and chief financial...
A corporation must appoint a president, chief executive officer(CEO), chief operating officer (COO), and chief financial officer (CFO). It must also appoint a planning committee with three different members. There are 16 qualified candidates, and officers can also serve on the committee. Complete parts (a) through (c) below. a.) How many different ways can the officers be appointed? There are __ different ways to appoint the officers. b.) How many different ways can the committee be appointed? There are ____...
A corporation must appoint a? president, chief executive officer? (CEO), chief operating officer? (COO), and chief...
A corporation must appoint a? president, chief executive officer? (CEO), chief operating officer? (COO), and chief financial officer? (CFO). It must also appoint a planning committee with fivefive different members. There are 1111 qualified? candidates, and officers can also serve on the committee. Complete parts? (a) through? (c) below. a. How many different ways can the officers be? appointed? b. How many different ways can the committee be? appointed? c. What is the probability of randomly selecting the committee members...
A corporation must appoint a​ president, chief executive officer​ (CEO), chief operating officer​ (COO), and chief...
A corporation must appoint a​ president, chief executive officer​ (CEO), chief operating officer​ (COO), and chief financial officer​ (CFO). It must also appoint a planning committee with three different members. There are 15 qualified​ candidates, and officers can also serve on the committee. Complete parts​ (a) through​ (c) below. a. How many different ways can the officers be​appointed? There are__different ways to appoint the officers. b. How many different ways can the committee be​ appointed? There are___different ways to appoint...
A corporation must appoint a​ president, chief executive officer​ (CEO), chief operating officer​ (COO), and chief...
A corporation must appoint a​ president, chief executive officer​ (CEO), chief operating officer​ (COO), and chief financial officer​ (CFO). It must also appoint a planning committee with three different members. There are 15 qualified​ candidates, and officers can also serve on the committee. Complete parts​ (a) through​ (c) below. a. How many different ways can the officers be​ appointed? b. How many different ways can the committee be​ appointed? c. What is the probability of randomly selecting the committee members...
A corporation must appoint a president, chief executive officer (CEO), chief operating officer (COO), and chief...
A corporation must appoint a president, chief executive officer (CEO), chief operating officer (COO), and chief financial officer (CFO). It must also appoint a planning committee with four different members. There are 15 qualified candidates, and officers can also serve on the committee. Complete parts a-c. a. There are __ different ways to appoint the officers. b. How many different ways can the committee be​ appointed? c. What is the probability of randomly selecting the committee members and getting the...
2. A corporation must appoint a​ president, chief executive officer​ (CEO), chief operating officer​ (COO), and...
2. A corporation must appoint a​ president, chief executive officer​ (CEO), chief operating officer​ (COO), and chief financial officer​ (CFO). It must also appoint a planning committee with three different members. There are 14 qualified​ candidates, and officers can also serve on the committee. Complete parts​ (a) through​ (c) below. a. How many different ways can the officers be​ appointed? There are ...... ? different ways to appoint the officers. b. How many different ways can the committee be​ appointed?...
A corporation must appoint a president a chief executive officer chief operating officer and chief financial...
A corporation must appoint a president a chief executive officer chief operating officer and chief financial officer. It must also appoint a planning committee with five different numbers. There are 15 qualified candidates, and officers can also serve on the committee. What is the probability of randomly selecting the committee members and getting the five youngest of the qualified candidates?
1-Which of the following controls a corporation? Chief executive officer (CEO) Board of directors Chief financial...
1-Which of the following controls a corporation? Chief executive officer (CEO) Board of directors Chief financial officer (CFO) None of these choices are correct. 2-All of the following are considered advantages of the corporate form of business EXCEPT limited liability. double taxation. continuous life. separate legal existence. 3- A journal entry to record the issuance of preferred stock at a premium would include a __________ to __________. credit; Cash debit; Paid-In Capital in Excess of Par debit; Preferred Stock credit;...
If the Chief Executive Officer (CEO) of a financial institution finds ways to increase the asset-capital...
If the Chief Executive Officer (CEO) of a financial institution finds ways to increase the asset-capital leverage of the institution during the boom years, how can we use the relationship between the return on assets, the return on capital and the asset-capital leverage for banks and financial institutions to explain how this would affect the share price and hence the shareholders' return? If the CEO's bonus is linked with the institution's profit in that year, how would this affect the...
You are the Chief Executive Officer (CEO) of Landsdale Corporation, LLC, with headquarters in New York...
You are the Chief Executive Officer (CEO) of Landsdale Corporation, LLC, with headquarters in New York City. Landsdale manufactures medical equipment. For fiscal year 2019, Landsdale’s profits were 5 billion dollars. Landsdale opened a subsidiary in Mexico in February 2019. Business was good in Mexico until coronavirus struck in January 2020. International travels have now been suspended indefinitely and supply chains have been disrupted. Explain in detail your policy prescriptions and business decisions relative to maintaining the subsidiary in Mexico....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT