If the interest rate is 10%, what is the present value of a security that pays you $1,100 next year, $1,210 the year after, and
1 answer:
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Answer:
There is 15% probability that a customer chosen at random holds a VISA card, given that the customer has an American Express card.
Step-by-step explanation:
Number of customers having a Visa card = 1,500
Number of customers having an American Express card = 500
Number of customers having Visa and American Express card = 75
Total number of customers = 1,500 + 500 = 2,000
We are asked to find the probability that a customer chosen at random holds a VISA card, given that the customer has an American Express card.
This problem is related to conditional probability which is given by
For the given problem it becomes
The probability P(VISA and AE) is given by
P(VISA and AE) = 75/2000
P(VISA and AE) = 0.0375
The probability P(AE) is given by
P(AE) = 500/2000
P(AE) = 0.25
Finally,
Therefore, there is 15% probability that a customer chosen at random holds a VISA card, given that the customer has an American Express card.
Answer:
The same ratio indicates that there is a proportional relationship between y and x.
Step-by-step explanation:
We know when y varies directly with x, the equation is
y ∝ x
Here,
k is the constant of proportionality.
The ratio y/x indicates that k is a constant of proportionality.
Thus, the same ratio indicates that there is a proportional relationship between y and x.
When x increases, y increases, and when y decreases, x also decreases.