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This P&C calculator will help you calculate your property and casualty insurance rates and provide a better understanding of how they impact your life. It includes property, casualty, life, health, and annuity coverages as well as distributions, deposits and dividends.
Permutations and combinations are part of a branch of mathematics called combinatorics, which involves studying finite, discrete structures. Permutations are specific selections of elements within a set where the order in which the elements are arranged is important, while combinations involve the selection of elements without regard for order. A typical combination lock for example, should technically be called a permutation lock by mathematical standards, since the order of the numbers entered is important; 1-2-9 is not the same as 2-9-1, whereas for a combination, any order of those three numbers would suffice. There are different types of permutations and combinations, but the calculator above only considers the case without replacement, also referred to as without repetition. This means that for the example of the combination lock above, this calculator does not compute the case where the combination lock can have repeated values, for example, 3-3-3.
. As with permutations, the calculator provided only considers the case of combinations without replacement, and the case of combinations with replacement will not be discussed. Using the example of a soccer team again, find the number of ways to choose 2 strikers from a team of 11. Unlike the case given in the permutation example, where the captain was chosen first, then the goalkeeper, the order in which the strikers are chosen does not matter, since they will both be strikers. Referring again to the soccer team as the letters A through K, it does not matter whether A and then B or B and then A are chosen to be strikers in those respective orders, only that they are chosen. The possible number of arrangements for all n people, is simply n!, as described in the permutations section. To determine the number of combinations, it is necessary to remove the redundancies from the total number of permutations (110 from the previous example in the permutations section) by dividing the redundancies, which in this case is 2!. Again, this is because order no longer matters, so the permutation equation needs to be reduced by the number of ways the players can be chosen, A then B or B then A, 2, or 2!. This yields the generalized equation for a combination as that for a permutation divided by the number of redundancies, and is typically known as the binomial coefficient: (Source: www.calculator.net)