A credit union takes a sample of four mortgages each month to survey the homeowners’ satisfaction with the credit union’s servicing of their mortgage. Each mortgage is classified as a fixed rate (F) or variable rate (V).
a. What are the 16 possible combinations of the four mortgages? One such possibility would be F1V2V3F4.
b. List the combinations in event A: At least three of the mortgages are variable rate.
c. List the combinations in event B: All four mortgages are the same type.
d. List the combinations in event C: The union of events A and B.
e. List the combinations in event D: The intersection of events A and B.