What is the difference between independent and conditional probability? Which one requires the use of the Addition Rule? Explain
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A company is selling books. It has to pay $500 to start printing the books, and once they have done that, the books sell at $14.99 each. How many books must they sell to make a profit?
First we would model an equation. X will be the amount of books sold, and Y will be profits (in dollars obv). They had to pay $500 before they could start selling, so we must account for that too.
This equation would be
because for every book sold, X increases by 1, increasing Y by 14.99
The answer would be 34 books sold in order to turn a profit. (500/14.99=
First we would model an equation. X will be the amount of books sold, and Y will be profits (in dollars obv). They had to pay $500 before they could start selling, so we must account for that too.
This equation would be
The answer would be 34 books sold in order to turn a profit. (500/14.99=