Chandra’s and Kobe Martin are self employed motel operators. They pay 100 percent of the ppo insurance premium of $6,510 annuall
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Of the last 100 customers entering a computer shop, 25 have purchased a computer. If the classical probability assessment for computing probability is used, the probability that the next customer will purchase a computer is:
Answer: In classical probability, all the outcomes are equally likely. In this situation, the next customer can either buy the computer or not. Therefore, the probability that the next customer will purchase a computer is:
Here the previous outcomes will not have any impact on the new outcomes. That is the reason the probability that the next customer will purchase a computer is 0.5
Classical probability measures the likelihood of something happening. It also means that every statistical experiment will contain elements that are equally likely to happen. The example of classical probability is fair dice roll because it is equally probable that it will land on any of the 6 numbers on the die: 1, 2, 3, 4, 5, or 6.
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