What is the interest earned based upon a principal of $1,000 at a rate of 6% over 8 years????
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Using probability concepts, it is found that:
a) probability of drawing a card below a 6.
b) odds of drawing a card below a 6.
c) We should expect to draw a card below 6 about 4 times out of 13 attempts, which as an odd, it also 4 times for every 9 times we draw a card above 6, which is the third option.
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- A probability is the <u>number of desired outcomes divided by the number of total outcomes</u>.
Item a:
- In a standard deck, there are 52 cards.
- There are 4 types of cards, each numbered 1 to 13. Thus,
are less than 6.
Then:
probability of drawing a card below a 6.
Item b:
- Converting from probability to odd, it is:
odds of drawing a card below a 6.
Item c:
- The law of large numbers states that with a <u>large number of trials, the percentage of each outcome is close to it's theoretical probability.</u>
- Thus, we should expect to draw a card below 6 about 4 times out of 13 attempts, which as an odd, it also 4 times for every 9 times we draw a card above 6, which is the third option.
A similar problem is given at brainly.com/question/24233657