Suppose You Pick Two Cards, One at a Time, at Random

question 1

Short Answer

Suppose you pick two cards, one at a time, at random, from an ordinary deck of 52 cards. Find
(a) p(both cards are diamonds).
(b) p(the cards form a pair).

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Definitions:

Production Budget

A forecast of the units that must be produced to meet anticipated sales, used in planning the required production levels.

Rolling Budget

A financial plan that is continually updated by adding a new period (month, quarter, etc.) as the current period concludes, ensuring the budget extends a constant length into the future.

Direct Labor Budget

An estimation of the total amount of labor cost that will be required for production over a specific period.

Production Volume

The quantity of products that a manufacturing system produces within a specific period of time.