At the end of a 10-year term, what is the balance of a $3,000 investment at a rate of 1.5 percent compounded quarterly?
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Answer:
The probability of selecting two Democrats and two Republicans is 0.4242.
Step-by-step explanation:
The information provided is as follows:
- A city council consists of seven Democrats and five Republicans.
- A committee of four people is selected.
In mathematics, the procedure to select k items from n distinct items, without replacement, is known as combinations.
The formula to compute the combinations of k items from n is given by the formula:
Compute the number of ways to select four people as follows:
Compute the number of ways to selected two Democrats as follows:
Compute the number of ways to selected two Republicans as follows:
Then the probability of selecting two Democrats and two Republicans as follows:
Thus, the probability of selecting two Democrats and two Republicans is 0.4242.