Use B=P(1+r/n) to find out the balance in marks account if he deposited 1950.00 at 2% Compounded daily for 4 years
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Answer:
Theoretical probability
Step-by-step explanation:
The theoretical probability is defined as:
In this case we look for the probability of taking a 2 out of the bag. As there is only one paper with the number 2 in the bag then:
number of desired results = 1
The amount of paper in the bag is equal to 7, so:
number of possible results = 7
Thus:
This is a theoretical probability, since we do not need to perform the experiment to calculate the probability.
To calculate the experimental probability we must perform the following experiment:
Take a paper out of the bag, record the number obtained and then return the paper to the bag.
Now repeat this experiment n times. (Perform n trials)
So:
To calculate a theoretical probability you always need to perform an experiment with n trials.