Solve the Problem. -A 5-Card Hand Is Dealt from a Deck of 52

question 303

Multiple Choice

Solve the problem.
-A 5-card hand is dealt from a deck of 52 cards. What is the probability that
a) all are from the same suit?
b) all are hearts?
c) exactly 2 are spades?

• A) a) 0.000495 b) 0.00198 c) 0.00003
• B) a) 0.00198 b) 0.000495 c) 0.27428
• C) a) 0.00198 b) 0.000495 c) 0.003516
• D) a) 0.000495 b) 0.00198 c) 0.003516

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Definitions:

Income Component

The part of an investment's return that comes from dividends or interest payments, as opposed to capital gains.

Broker-dealers

Firms that trade securities for customers and their own accounts, providing investment services.

Clients' Interests

A principle in financial and legal services that emphasizes prioritizing the needs and goals of clients above those of the professional or the firm.

Suitability

Suitability refers to the requirement that financial advisors and investment recommendations must align with the investing objectives, risk tolerance, and financial situation of the client.