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20 October, 08:47

A stock can go up, go down, or stay unchanged. How many possibilities are there if you own 7 stocks? How did my textbook get 2187 as the answer?

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  1. 20 October, 11:02
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    Each stock has 3 possibility (either up or down or unchanged)

    & you have 7 shares where each one could have the three possibility:

    For 1 share you have 3 possibility

    for 2 shares you have a total possibility of 3 x 3 = 3²

    and so on. The total of possibility for 7 shares = 3⁷ = 2187
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