What is the difference between independent and conditional probability? Which one requires the use of the Addition Rule?Explain.
2 answers:
Answer:
In probability, independent events are those that if one event occurs, it does not change the probability of the other event.
Whereas conditional probability is defined as the probability of one event occurring with some relationship to one or more other events.
The addition rule is used for both the independent and conditional probabilities.
For independent event the probability is shown as :
For conditional:
You might be interested in
I'll use my own formula (similar to yours tho)
A=future amount
p=invested
r=rate in decimal
n=number of times per year compounded
t=time in years
so
when will A=2P
subsitute 2P for A
also quarterly means 4 times a year or n=4
and 12%=0.12=r
so
divide both sides by P
simplify
take the ln of both sides
divide both sides by 4ln(1.03)
use calculator
5.86244=t
about 5.9 years
A=future amount
p=invested
r=rate in decimal
n=number of times per year compounded
t=time in years
so
when will A=2P
subsitute 2P for A
also quarterly means 4 times a year or n=4
and 12%=0.12=r
so
divide both sides by P
simplify
take the ln of both sides
divide both sides by 4ln(1.03)
use calculator
5.86244=t
about 5.9 years