Example: stock market
MATH 2P82 MATHEMATICAL STATISTICS (Lecture Notes)
6! 3!2!1! def.= µ 6 3,2,1 ¶ or N! n 1!n 2!n 3!.....nk! def.= µ N n 1,n 2,n 3,....,nk ¶ in general, where N= Pk i=1 niwhich is the total word length (multinomial coef-ficient). Selecting rout of nobjects (without duplication), counting all possible arrange-ments: n×(n−1) ×(n−2)×....×(n−r+1)= n! (n−r)! def.= Pn r (number of ...
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