Answer:
See below for answers and explanations
Step-by-step explanation:
<u>Problem 1:</u>
A standard deck of cards contains 52 cards, consisting of 13 spades. If you select only one randomly, the probability of that occurring would be 13/52 or 1/4. Since there are only 26 red cards in a standard deck, then the probability of selecting a red card would be 26/52 or 1/2. Because the two events are independent of each other, their probabilities are multiplied. Therefore, the probability of selecting a spade, and then replacing it in hopes of drawing a red card is (1/2)(1/4) = 1/8.
<u>Problem 2:</u>
We are selecting a spade and then another spade while NOT replacing the first spade (remember that these events are independent of each other also). This means that the total card count will change by picking up the second card. Therefore, the probability of selecting a spade, followed by another spade, is (13/52)(12/51) = 156/2652 = 1/17.
Based on Molly's willingness to pay for the 8th trip, and the number of trips she can make over the bridge, her willingness to pay for the bridge repair would be<u> $1.00.</u>
<h3>What is Molly's willingness to pay for taxes to fix the bridge?</h3><h3 />
Molly's willingness to pay for trips is equal to the total consumer surplus she gets.
This means that her consumer surplus is $0.50.
With the bridge fixed, she can make 2 more trips than before because she can make 10 trips.
Her willingnesss to pay for the taxes will therefore be equal to her willingness to pay for the remaining trips:
= 0.50 x 2
= $1.00
Find out more on willingness to pay at brainly.com/question/8449170.
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Answer:
2/3
Step-by-step explanation:
1/3 x 2/1 = 2/3
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