# 1. An experiment requires a sequence of 3 steps. The first step can result in 4 possible outcomes, the second...

## Question:

1. An experiment requires a sequence of 3 steps. The first step can result in 4 possible outcomes, the second in 3 possible outcomes, and the third in 2 possible outcomes. What is the total number of outcomes possible?

2. At the beginning of 2002, an ice cream shop claimed to have "nearly 1,040 different ice cream flavors." Assuming that you could choose from 1,040 different flavors, that you could have your ice cream in a cone, a cup, or a sundae, and that you could choose from a dozen different toppings, how many different desserts could you have?

3. Your broker has suggested that you diversify your investments by splitting your portfolio among mutual funds, municipal bond funds, stocks, and precious metals. She suggests six good mutual funds, six municipal bond funds, seven stocks, and three precious metals (gold, silver, and platinum).

(a)Assuming your portfolio is to contain one of each type of investment, how many different portfolios are possible?

(b) Assuming your portfolio is to contain mutual funds, municipal bond funds, one stock, and two precious metals, how many different portfolios are possible?

4) Dripping wet after your shower, you have clean forgotten the combination of your lock. It is one of those "standard" combination locks, which uses a three number combination with each number in the range 0 through 39. All you remember is that the second number is either 27 or 36, while the third number ends in a 7. In desperation, you decide to go through all possible combinations using the information you remember. Assuming that it takes about 10 seconds to try each combination, what is the longest possible time you may have to stand dripping in front of your locker?

**Related Book For**

## Essentials of Statistics for Business and Economics

ISBN: 978-1337114172

8th edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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