Question

In: Statistics and Probability

Suppose that your boss must choose three employees in your office to attend a conference in...

Suppose that your boss must choose three employees in your office to attend a conference in the US Virgin Islands. Because all 20 of you want to go, he decides that the only fair way is to draw names out of a hat. What is the probability that you, Suzy, and Alex are chosen?

Solutions

Expert Solution

TOPIC:Classical definition of probability, Permutation and Combination.


Related Solutions

In June of this year, Dr. and Mrs. Savage traveled to attend a three-day professional conference....
In June of this year, Dr. and Mrs. Savage traveled to attend a three-day professional conference. Dr. Savage, a self-employed practicing surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. On two days, Mrs. Savage attended group meetings where various aspects of family tax planning were discussed. On the other day, she went sightseeing. Mrs. Savage does not work for her husband, but she prepares their tax returns and handles the family investments. Expenses incurred...
You must choose a diversity event or film, of your choice, ,to attend/view. After which, you...
You must choose a diversity event or film, of your choice, ,to attend/view. After which, you are to write a reaction paper of between 1-2, double-spaced, 12 pt font, pages discussing the event/video, what you learned and how it applies to Diversity.
The Financial Director of your company has recently asked you to attend a conference where a...
The Financial Director of your company has recently asked you to attend a conference where a paper on Balanced Scorecards entitled ‘Linking Management Accounting with Strategy’ was presented. At the next Board meeting of the company you have been asked to: (a) Discuss what the four perspectives of a Balanced Scorecard are, and how they are translated into performance measures and targets. (b) Critically appraise the success of the application of Balanced Scorecards in business organisations and whether they are...
One late Friday afternoon your obnoxious boss comes into your office as you are about to...
One late Friday afternoon your obnoxious boss comes into your office as you are about to leave, and shows you 26 observations that he believes to be related. Y, he believes, is the dependent variable and X1 is the independent variable. He also thinks there is a 2nd order polynomial relationship in the data ( Y = B1X1 +B2X12 + B0 ), and, as you casually view the data, you tend to agree. He insists that the determination of B1,...
A.  Assume Charlie lives for two periods and must choose between two options.  Option 1:  Do not attend school...
A.  Assume Charlie lives for two periods and must choose between two options.  Option 1:  Do not attend school at all and work in both periods at a salary of $20,000 per period.  Option 2:  Attend school in the first period incurring $5,000 in direct schooling costs, then in the second period work at a salary of $45,000.  Assume the discount rate between periods is 5 %.  Which option will Charlie choose to pursue? B.  State whether the below is True or False, then explain your reasoning. When...
Suppose that you are working for the Ministry of Justice and your boss asks you to...
Suppose that you are working for the Ministry of Justice and your boss asks you to research the possible impact of years of education on salaries. Write down the regression model which will be able to investigate this relationship. Clearly indicate x and y and show in your model which variable is x and which variable is y. Running the above regression will return estimates of B, and Ba. Based on your economic background, your general knowledge and your intuition,...
DuPont Model: Comfy Chair Case You work for an office supply company and your boss has...
DuPont Model: Comfy Chair Case You work for an office supply company and your boss has a problem. The new product development (NPD) team has designed a new office chair – The Comfy Chair. The NPD team wants to use a new material – Synthetic X – for the seat and arm covers. Right now, all of your office chairs use a nylon-based material. Synthetic X is an innovative product with very few suppliers, but has the potential to capture...
DuPont Model: Comfy Chair Case You work for an office supply company and your boss has...
DuPont Model: Comfy Chair Case You work for an office supply company and your boss has a problem. The new product development (NPD) team has designed a new office chair – The Comfy Chair. The NPD team wants to use a new material – Synthetic X – for the seat and arm covers. Right now, all of your office chairs use a nylon-based material. Synthetic X is an innovative product with very few suppliers, but has the potential to capture...
julie plans to take part in the office betting pool. Each participant must choose the first...
julie plans to take part in the office betting pool. Each participant must choose the first second and third place winners in a basketball tournament and write them on their ticket. If julie chooses correctly, she will win $1000. If there are 28 basketball teams to choose from in the tournament, how many different tickets are possible?
You are a financial manager and must choose between three different investments.
You are a financial manager and must choose between three different investments. Each asset is expected to provide earnings over a three-year period as outlined in the table below. Based solely on the information below with the objective of maximizing wealth, which Asset should you select and why?Year. Asset 1. Asset 2. Asset 3.1. $21,000. $9,000. $15,0002. 17,000. 15,000. 15,0003. 7,000. 21,000. 15,00045,000. 45,000. 45,000
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT