Lenny has a remaining balance on his credit card of $3,000. His credit card has an APR of 20 percent. How much will he pay in in
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We have to calculate the probability of picking a 4 and then a 5 without replacement.
We can express this as the product of the probabilities of two events:
• The probability of picking a 4
,• The probability of picking a 5, given that a 4 has been retired from the deck.
We have one card in the deck out of fouor cards that is a "4".
Then, the probability of picking a "4" will be:
The probability of picking a "5" will be now equal to one card (the number of 5's in the deck) divided by the number of remaining cards (3 cards):
We then calculate the probabilities of this two events happening in sequence as:
Answer: 1/12