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We have $20,000 that must be invested among 4 possible

A First Course in Probability | 9th Edition | ISBN: 9780321794772 | Authors: Sheldon Ross ISBN: 9780321794772 63

Solution for problem 33P Chapter 1

A First Course in Probability | 9th Edition

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A First Course in Probability | 9th Edition | ISBN: 9780321794772 | Authors: Sheldon Ross

A First Course in Probability | 9th Edition

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Problem 33P

Problem 33P

We have $20,000 that must be invested among 4 possible opportunities. Each investment must be integral in units of $1000, and there are minimal investments that need to be made if one is to invest in these opportunities. The minimal investments arc $2000, $2000, $3000, and $4000. How many different investment strategies are available if

(a) an investment must be made in each opportunity?

(b) investments must be made in at least 3 of the 4 opportunities?

Step-by-Step Solution:

Solution

Step 1 of 8

a) We have to find the no.of different investment strategies are available for an investment must be made in each opportunity

Now we have 20 thousand dollars to invest

Each investment should be integer in units of 1 thousand

Let Xi be the investments in 4 companies  then i=1,2,3,4

Then

The minimal investment in each company is


Step 2 of 8

Chapter 1, Problem 33P is Solved
Step 3 of 8

Textbook: A First Course in Probability
Edition: 9
Author: Sheldon Ross
ISBN: 9780321794772

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We have $20,000 that must be invested among 4 possible