Use the Multinomial Formula to Find the Probability for the Situation

question 2

Multiple Choice

Use the multinomial formula to find the probability for the situation in which n = 5, X₁ = 2, X₂ = 2, X₃ = 1, and, p₁ = 0.4, p₂ = 0.4, p₃ = 0.2.

• A) 0.0768
• B) 0.1152
• C) 0.1536
• D) 0.2304

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Definitions:

Present Value

The today's value of future money or cash flows, determined by applying a chosen rate of return.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Future Earnings

The projected income a company or individual is expected to generate in upcoming periods.

Investing Human Capital

The process of improving the workforce's skills and knowledge through education, training, and experience to enhance productivity and economic value.