SOLUTION: Today’s local newspaper lists 20 stocks “of local interest.” Of these stocks, ten increased, five decreased and five remained unchanged yesterday. If we decide to buy two of the s
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Question 349107: Today’s local newspaper lists 20 stocks “of local interest.” Of these stocks, ten increased, five decreased and five remained unchanged yesterday. If we decide to buy two of the stocks, what is the likelihood that both increased yesterday?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Today’s local newspaper lists 20 stocks “of local interest.” Of these stocks, ten increased, five decreased and five remained unchanged yesterday. If we decide to buy two of the stocks, what is the likelihood that both increased yesterday?
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# of ways to pick 2 that increased: 10C2 = 45
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# of ways to pick 2 randomly: 20C2 = 190
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P(pick 2 that increased) = 45/190 = 0.2368
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Cheers,
Stan H.
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