Question
Entering a PIN number for an ATM machine is an example of a permutation. The order that we enter the number matters. How is that
Entering a PIN number for an ATM machine is an example of a permutation. The order that we enter the number matters. How is that different from a combination? Give an example of a permutation and a combination from life, and explain why each example is a permutation or combination.
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
