![]() ![]() Numberchosen (required argument) An integer that describes the number of objects in each permutation. There are 5040 ways of selecting 4 objects from a group of 10 objects when ordering of objects is important. Formula PERMUTATIONA(number, numberchosen) The PERMUTATIONA function includes the following arguments: Number (required argument) This is an integer that describes the total number of objects. This is read as the number of permutations of r objects from total n objects. To solve this problem, we need to use the permutation formula which accounts for ordering of objects. For example, from our group of 10 stocks, we want to select 4 stocks and rank them as No. However, there could be a situation where the order matters. ![]() Note that in combinations, the order in which the objects are listed does not matter, that is A, B is the same as B, A. We discuss combinations in a little more detail below. The Combination formula has its application in binomial trees. To some degree, permutations are a form of ordered combinations. The combination problems can be solved directly on your BA II Plus calculator using the nCr function. This is called the combination formula and is read as n combination r, i.e., how many ways can we select a group of size r from a group of n objects. Let’s say n1 = r = 4, in that case n2 can be rewritten as n2 = n – r or 10 – 4 = 6 This means that the n objects can be labelled only in two ways and n1 + n2 = n.įor example, suppose we had to label 4 of our 10 stocks as BUY and the remaining 6 as SELL. This is a special case of multinomial formula where the types of labels k=2. ![]()
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