statistical concepts of Combinations and Permutations

The following 4 questions (Q1 to Q4) are based on the following information:
You and your friends have decided to go to The Kentucky Derby. There are 13 horses in
the race. How many ways can the horses come in first, second, or third?
Steps for Calculation:
Q1: Is this an example of a combination or a permutation?
Q2: What is N?
Q3: What is r?
Q4: What is the calculated value for this example?
The following 4 questions (Q5 to Q8) are based on the following information:
You have 18 friends that you want to invite to dinner. However, your dining room table
only seats 6 people. Since, you will take up one seat, you can only have five friends at one time.
How many different groups of guests can you have?
Steps for Calculation:
Q5: Is this an example of a combination or a permutation?
Q6: What is N?
Q7: What is r?
Q8: What is the calculated value for this example?
The following 2 questions (Q9 to Q10) are either “True” or “False”
Q9: With a permutation ‘order matters’.
Q10: 5! is equal to 120.
Q11: Which one of the following is NOT one of the major uses of the CPI?
A. The CPI is used to evaluate and determine economic policy.
B. The CPI is used to compare prices in different years.
C. The CPI is used to determine salary and price adjustments.
D. All of the above three answers are major uses of the CPI.
Q12: Using the 1989 base as a base, the price index for computers is now 125. What does this
index number mean?
A. price of computers has decreased 25% since 1989
B. price of computers has increased 125% since 1989
C. price of computers has increased 25% since 1989
D. none of the above three answers are correct
Q13: A _____________ economic indicator is one whose changes lag behind or follow
changes in the economy.
A. Lagging
B. Coincidence
Q14: Some criticisms of the CPI include all of the following except:
A. the market basket used in the CPI may not reflect current spending priorities
B. the CPI takes advantage of sale prices
C. the CPI does not adjust for changes in quality
D. the CPI does not measure prices for rural Americans
The following 2 questions (Q15 to Q16) are based on the following information:
The CPI’s at the start of each decade from 1940 to 1990 were:
Year 1940 1950 1960 1970 1980 1990
CPI 14.0 24.1 29.6 38.8 82.4 130.7
Q15: What was the rate of inflation for the 1950’s, as measured by the percentage change in
the CPI?
Q16: What was the rate of inflation for the 1960’s, as measured by the percentage change in
the CPI?
Q17: Name the major category added for the market basket of goods and services in 1998?
Q18: Tuition at University Z was \$1100 per quarter in 1985 (CPI = 107.6). How much should
tuition be in 2001 adjusted for inflation (CPI = 175.1)?
The following 2 questions (Q19 to Q20) are either “True” or “False”
Q19: ‘Child care’ is one of the eight major categories of goods and services in the market
Q20: The current ‘base period’ that we are on is 1982-1984.

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Our Services

Quality Custom Writers has assembled a team of highly skilled writers with diverse experience in the online writing circles. Our aim is to become a one stop shop for all your Academic/ online writing. Check out below our amazing service!

Essay Writing Services

At Quality Custom Writers, we prioritize on all aspects that creates a good grade such as impeccable grammar, proper structure, zero-plagiarism, and conformance to guidelines. The principal purpose of essay writing is to present the author's evaluation concerning a singular subject about which they have made. Since Professionalism is the mother of every success, try our team of experienced writers in helping you complete your essays and other assignments.

You have been trying to join that prestigious institution you long yearned for, but the hurdle of an admission essay has become a stumbling block. We have your back, with our proven team that has gained invaluable experience over time, your chance of joining that institution is now! Just let us work on that essay.How do you write an admission essay? How do you begin the essay? For answers, try Quality Custom Writers Now!

Regardless of whether you're pleased with your composing abilities, it's never an impractical notion to have a second eye go through your work. The best editing services leaves no mistake untouched. We recognize the stuff needed to polish up a writing; as a component of our editing and proofreading, we'll change and refine your write up to guarantee it's amazing, and blunder free. Our group of expert editors will examine your work, giving an impeccable touch of English while ensuring your punctuation and sentence structures are top-notch.

Technical papers

We pride ourselves in having a team of clinical writers. The stringent and rigorous vetting process ensures that only the best persons for job. We hire qualified PhD and MA writers only. We equally offer our team of writers bonuses and incentives to motivate their working spirit in terms of delivering original, unique, and informative content. They are our resources drawn from diverse fields. Therefore your technical paper is in the right hands. Every paper is assessed and only the writers with the technical know-how in that field get to work on it.

College Essay Writing

If all along you have been looking for a trustworthy college essay service provider that provides superb academic papers at reasonable prices, then be glad that you search has ended with us. We are your best choice! Get high-quality college essay writing from our magnificent team of knowledgeable and dedicated writers right now!

Quality Assignment/Homework Help

We give the students premium quality assignments, without alarming them with plagiarism and referencing issues. We ensure that the assignments stick to the rules given by the tutors. We are specific about the deadlines you give us. We assure you that you will get your papers well in advance, knowing that you will review and return it if there are any changes, which should be incorporated.