1. Explain why counting rules are useful.
2. Explain when it is appropriate to use the counting rule for multiple-step experiments.
3. Explain when it is appropriate to use the counting rule for combinations.
4. A credit union has two branches; each branch has two departments, and each department has four employees. How many total people does the credit union employ? If you work for the credit union, and one employee is randomly selected to go to a convention, what is the probability that you will be chosen?
5. Construct a tree diagram (like Figure 4.6) for the situation described in Exercise 4.
6. How many combinations of two high-risk stocks could you randomly select from eight high-risk stocks? If you did this, what is the probability that you would obtain the two highest-returning stocks?
7. A pop quiz consists of three true-false questions and three multiple choice questions. Each multiple choice question has five possible answers. If a student blindly guesses the answer to every question, what is the probability that the student will correctly answer all six questions?
Text Book: Business Statics in Practice By BOWERMAN.