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Chapter 11: Problem 48
How many arrangements can be made using four of the letters of the word COMBINE if no letter is to be used more than once?
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We return to our box of chocolates. There are 30 chocolates in the box, all identically shaped. Five are filled with coconut, 10 with caramel, and 15 are solid chocolate. You randomly select one piece, eat it, and then select a second piece. Find the probability of selecting a coconut-filled chocolate followed by a solid chocolate.
Shoppers in a large shopping mall are categorized as male or female, over 30 or 30 and under, and cash or credit card shoppers. In how many ways can the shoppers be categorized?
The tables in Exercises 3-4 show claims and their probabilities for an insurance company. a. Calculate the expected value and describe what this means in practical terms. b. How much should the company charge as an average premium so that it breaks even on its claim costs? c. How much should the company charge to make a profit of \(\$ 50\) per policy? PROBABILITIES FOR MEDICAL INSURANCE CLAIMS $$ \begin{array}{|c|c|} \hline \begin{array}{c} \text { Amount of Claim (to the } \\ \text { nearest } \mathbf{\$ 2 0 , 0 0 0 )} \end{array} & \text { Probability } \\ \hline \$ 0 & 0.70 \\ \hline \$ 20,000 & 0.20 \\ \hline \$ 40,000 & 0.06 \\ \hline \$ 60,000 & 0.02 \\ \hline \$ 80,000 & 0.01 \\ \hline \$ 100,000 & 0.01 \\ \hline \end{array} $$
Figure \(\mathbf{1 1 . 2}\) on page 689 shows that a tree diagram can be used to find the total number of outfits. Describe one advantage of using the Fundamental Counting Principle rather than a tree diagram.
Are related to the SAT, described in Check Point 4 on page \(752 .\) A store specializing in mountain bikes is to open in one of two malls. If the first mall is selected, the store anticipates a yearly profit of \(\$ 300,000\) if successful and a yearly loss of \(\$ 100,000\) otherwise. The probability of success is \(\frac{1}{2}\). If the second mall is selected, it is estimated that the yearly profit will be \(\$ 200,000\) if successful; otherwise, the annual loss will be \(\$ 60,000\). The probability of success at the second mall is \(\frac{3}{4}\). Which mall should be chosen in order to maximize the expected profit?
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