You are applying for a job at two companies. Company A offers starting salaries with μ=$34,000 and σ=$1,000. Company B offers starting salaries with μ=$34,000 and σ=$3,000. From which company are you more likely to get an offer of $36,000 or more?
Permutations and Combinations
If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.
You are applying for a job at two companies. Company A offers starting salaries with
and
Company B offers starting salaries with
and
From which company are you more likely to get an offer of
or more?
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