Overview
Help me study for my Mathematics class. I’m stuck and don’t understand.
A financial analyst was asked to evaluate earnings prospects for seven corporations over the next year and to rank them in order of predicted earnings growth rates.
| a. | How many different rankings are possible? |
b. | If, in fact, a specific ordering is the result of a guess, what is the probability that this guess will turn out to be correct? |
a.
How many different rankings are possible?
There are ways the corporations can be ranked.
(Type a whole number.)
b.
If, in fact, a specific ordering is the result of a guess,
what is the probability that this guess will turn out to be correct?
(Type an integer or a fraction.)