Rankings question

A financial analyst was asked to evaluate earnings prospects for seven corporations over the next year and to rank them in order of predicted earnings growth rates.

a.	How many different rankings are possible?
b.	If, in fact, a specific ordering is the result of a guess, what is the probability that this guess will turn out to be correct?

a.

How many different rankings are possible?

There are ways the corporations can be ranked.

(Type a whole number.)

b.

If, in fact, a specific ordering is the result of a guess,

what is the probability that this guess will turn out to be correct?

(Type an integer or a fraction.)