Final answer:
The probability of selecting exactly 3 issues of Sports Illustrated is found by combining combinations for selecting magazines and dividing by the total number of ways to select 4 magazines. The closest answer is 0.17, option A.
Step-by-step explanation:
To find the probability of selecting exactly 3 issues of Sports Illustrated from the given magazines, we need to use the concept of combinations. We have 8 issues of Sports Illustrated, 7 of Newsweek, and 3 of Time. We want to choose 4 magazines such that 3 are Sports Illustrated and 1 is from the remaining magazines (Newsweek or Time).
First, we calculate the number of ways to select 3 issues of Sports Illustrated, which is a combination of 3 from 8: C(8,3). Then, we calculate the ways to select 1 issue from the remaining magazines which is a combination of 1 from 10 (7 Newsweek + 3 Time): C(10,1).
The total number of ways to select 4 magazines from all 18 is C(18,4).
The probability is then calculated as follows:
(C(8,3) * C(10,1)) / C(18,4).
Plugging the numbers into the formula:
(C(8,3) * C(10,1)) / C(18,4) = (56 * 10) / 3060 = 560 / 3060 = 28 / 153 ≈ 0.183
Looking at the options given, the closest is option A) 0.17.