Answer to Question #82902 in Financial Math for Dakota M

Question

The following table shows the closing prices and change of 12 stocks.
Tech Stocks Close Change
AAPL (Apple) $113.40 −1.81
ADBE (Adobe Systems) $84.66 1.34
EBAY (eBay) $25.61 −0.31
MSFT (Microsoft) $3.90 −0.21
S (Sprint) $4.40 0.02
WIFI (Boingo Wireless) $8.51 0.56
Non-Tech Stocks
ANF (Abercrombie & Fitch) $21.81 −0.02
B (Boeing) $133.99 −2.03
F (Ford Motor Co.) $13.91 −0.40
GE (General Electric) $25.10 0.01
GIS (General Mills) $57.12 0.33
JNJ (Johnson & Johnson) $93.26 0.13
Swift advised you to purchase a collection of two tech stocks and two non-tech stocks, all chosen at random from those listed in the table. You were to sell all the stocks at the end of the trading day.
(b) How many of the collections in part (a) consist entirely of stocks that declined in value by the end of the day?
(c) Using the answers to parts (a) and (b), what would you say your chances were of choosing a collection consisting entirely of stocks that declined in value by the end of the day?

Answer 1

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