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Combinations are selections of items where the order does not matter. They are calculated using the binomial coefficient formula $\binom{n}{k} = \frac{n!}{k!(n-k)!}$.
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Permutations: Arrangements of items where the order matters, calculated as $P(n, k) = \frac{n!}{(n-k)!}$.
$$(a + b)^n = \sum_{k=0}^{n} \binom{n}{k} a^{(n-k)} b^k$$ describes the expansion of powers of binomials.
Factorial: $$ n! $$ (read as 'n factorial') is the product of all positive integers up to $n$, used in calculating permutations and combinations.