Discussion:
Q1. An investor owns three common stocks. Each stock, independent of the other, has equally likely chances of:
(1) increasing in value,
(2) decreasing in value,
(3) remaining the same value
List the possible outcomes of this experiment. Estimate the probability at least two of the stocks increase in value.
Q2. If you ask three strangers about their birthdays, what is the probability:
(a) All were born on Wednesday?
(b) All were born on different days of the week?
(c) None were born on Saturday?