Sherwood P. answered 10/14/20
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Although it is not explicitly stated, I am going to assume the set of digits referred to in this problem is the set of 10 digits with exactly one copy of each digit in the set = {0,1,2,3,4,5,6,7,8,9}.
The total number of three digit numbers that can be created at random from 3 digits out of this set = 1000 minus the numbers in 000-999 inclusive, which contain multiple copies of the same digit. 10 of these numbers are triplets of the same digit. 10 possible pairs of the same digit x 9 possible different digits = 90 numbers that need to be removed fo r each of 3 locations of the different digit in the 3-digit number = 270 numbers, for a total of 10 + 270 = 280 removed numbers. This means that a total of 1000-280=720 numbers can be formed by three different digits. This can also be calculated as 10 choices for the first digit x 9 choices for the second digit x 8 choices for the 3rd digit = 720.
Numbers that are < 500 need to begin with 0, 1, 2, 3 or 4 in the hundreds' place, which is 5 choices. Picking one of these digits, leaves 9 possibilities for the tens' place and 8 possibilities for the ones' place for a total of 5x9x8 = 360 numbers.
So the probability that the resulting number is < 500 is 360/720 = 0.5 or 50%.