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The retirement plan for a company allows employees to invest
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09 May 2019, 01:37
09 May 2019, 01:37
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Question Stats:
40% (02:07) correct
59% (01:22) wrong based on 32 sessions
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The retirement plan for a company allows employees to invest in 10 different mutual funds. Six of the 10 funds grew by at least 10% over the last year. If Sam randomly selected 4 of the 10 funds, what is the probability that at least 3 of Sam’s 4 funds grew by at least 10% over the last year?
(A) \(\frac{6C_3}{10C_4}\)
(B) \(\frac{6C_3*4C_1}{10C_4}\)
(C) \(\frac{6C_3*4C_1+6C_4}{10P_4}\)
(D) \(\frac{6P_3*4P_1}{10C_4}\)
(E) \(\frac{6C_3*4C_1 + 6C_4}{10C_4}\)
(A) \(\frac{6C_3}{10C_4}\)
(B) \(\frac{6C_3*4C_1}{10C_4}\)
(C) \(\frac{6C_3*4C_1+6C_4}{10P_4}\)
(D) \(\frac{6P_3*4P_1}{10C_4}\)
(E) \(\frac{6C_3*4C_1 + 6C_4}{10C_4}\)
Re: The retirement plan for a company allows employees to invest
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10 May 2019, 02:14
10 May 2019, 02:14
There are 10 mutual funds.
6 of them grew by at least 10% and 4 that didn't grew by at least 10%
Sam picks 4 fund type.
So the sample space is 10c4. Hence we can eliminate option c.
Now this is a combination problem as we don't have to consider order of choice. Therefore we can also get rid of option D.
The successful option is given by 6c3*4c1 + 6c4. This expression should appear in the numerator of options. Therefore the ans is E.
Here, Sam can chose either 3 funds that grew by atleast 10% and 1 that didn't or he can chose all 4 funds that grew by 10%.
6 of them grew by at least 10% and 4 that didn't grew by at least 10%
Sam picks 4 fund type.
So the sample space is 10c4. Hence we can eliminate option c.
Now this is a combination problem as we don't have to consider order of choice. Therefore we can also get rid of option D.
The successful option is given by 6c3*4c1 + 6c4. This expression should appear in the numerator of options. Therefore the ans is E.
Here, Sam can chose either 3 funds that grew by atleast 10% and 1 that didn't or he can chose all 4 funds that grew by 10%.
Re: The retirement plan for a company allows employees to invest
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28 Aug 2019, 02:06
28 Aug 2019, 02:06
This is a very nice question. Thanks!
