Assignment:
Each of a sample of four home mortgages is classified as fixed rate (F) or variable rate (V).
a. What are the 16 outcomes in the sample space?
b. Which outcomes are in the event that exactly three of the selected mortgages are fixed rate?
c. Which outcomes are in the event that all four mortgages are of the same type?
d. Which outcomes are in the event that at most one of the four is a variable-rate mortgage?
e. What is the union of the events in parts (c) and (d), and what is the intersection of these two events?
f. What are the union and intersection of the two events in parts (b) and (c)?
Provide complete and step by step solution for the question and show calculations and use formulas.