
Elly V. answered 09/19/15
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This questions is asking about permutations, which is the number of different ways to arrange a set of objects/things/etc. Permutations use the factorial function (!). In general, n!=n(n-1)(n-2)... If we have 4!, then we have 4*(4-1)*(4-2)*(4-3)= 4*3*2*1=24
For permutations less than all, permutations with more than one event/step, the following formula is used: nPk, with n being a superscript and k being a subscript. n represents the first event and k represents the second. This can be represented as:
nPk=n(n-1)(n-2)...to k factors.
Written in factorial form: n!/(n-k)!
For this problem, the first event is picking 3 objects from the total of 8, and then from the 3 you pick you need to arrange them in order of price. The first event involved 8 items (n=8) and the second event involved 3 items (k=3)
8P3=8*(8-1)*(8-2)=8*7*6=336
in factorial form: 8!/(8-3)! = 8!/5!
in the expanded form: (8*7*6*5*4*3*2*1)/(5*4*3*2*1).
5, 4, 3, 2, and 1 are the same in the numerator and denominator so they can cancel and you are left with: 8*7*6


Stephanie H.
Sorry, just reread the question. It's the same exact one I answered before with a couple of word changes. You are completely correct.
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09/19/15
Stephanie H.
09/19/15