Chapter 8.4, Problem 15E

Dogs of the Dow The “Dogs of the Dow” are the stocks listed on the Dow with the highest dividend yield. Exercises 11–16 are based on the following table, which shows the top ten stocks of the “Dogs of the Dow” list for 2015, based on their performance the preceding year.⁴⁷ [HinT: See Example 2.]

Symbol	Company	Price	Yield
T	aT&T	33.59	5.48%
VZ	Verizon	46.78	4.70%
CVX	Chevron	112.18	3.82%
MCD	McDonald’s	93.70	3.63%
PFE	Pfizer	31.15	3.60%
GE	General Electric	25.27	3.48%
MRK	Merck	56.79	3.17%
CAT	Caterpillar	91.53	3.06%
XOM	ExxonMobil	92.45	2.99%
KO	Coca-Cola	42.22	2.89%

If your portfolio included 100 shares of PFE and you then purchased 100 shares each of any two companies on the list at random, find the probability that you ended up with a total of 200 shares of PFE.