Four Analysts' Order and Bonus Possibilities

How Many Ways Can Your Firm's Analysts Finish?

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Question

Four of your firm's analysts have been chosen as finalists for the Wealth Magazine All-Star Analysts team. They will get different bonuses depending on the order in which they finish among themselves. How many different ways could they finish?

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A. B. C. D.

B

The factorial method allows you to determine the number of ways of arranging n things. Initially, there are n choices for the first item, then n-1 for the second, and so on. The number of combinations is therefore n! = n * (n-1) * (n-2) * (n-3) * ... * (1). Here, we wish to find out how many different orders can be made with 4 persons. The answer is 4! = 4 * 3 * 2 * 1 = 24.

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