The probability of the success will be 0.3826.
<h3>What is binomial distribution?</h3>Bernoulli's trials are those trials which end up randomly either on success (with probability p) or on failures (with probability 1- p = q (say))
The probability that out of n trials, there'd be x successes is given by
We have
n = 8
p = 0.1
q = 1 – 0.1 = 0.9
x = 1
Then we have
P(1) = ⁸C₁ x (0.1)¹ x (0.9)⁷
P(1) = 0.3826
Learn more about binomial distribution here:
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Answer:
£631.07
Step-by-step explanation:
Increasing a value by 3% is the same as taking 103% of it - you have the original price (100%) plus an additional 3% of it. Let's call the original price here p. We're told that after a 3% increase, the price goes up to £650. Put another way: 103% of p is £650. In equation form:
To solve for p, we can simply divide both sides of our equation by 1.03 to get
So our orignal amount, to the nearest penny, was £631.07