Derek has a bank account that pays 2.1% simple interest. The balance is $910. When will the account grow to $1,000?
1 answer:
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Answer:
a) 80% probability that he wins at least one race.
b) 30% probability that he wins exactly one race.
c) 20% probability that he wins neither race.
Step-by-step explanation:
We solve this problem building the Venn's diagram of these probabilities.
I am going to say that:
A is the probability that he wins the first race.
B is the probability that he wins the second race.
C is the probability that he does not win any of these races.
We have that:
In which a is the probability that he wins the first race but not the second and is the probability that he wins both these races.
By the same logic, we have that:
The probability that he wins both races is 0.5.
This means that
The probability that he wins the second race is 0.6
This means that
The probability that he wins the first race is 0.7.
This means that
A) he wins at least one race.
This is
There is an 80% probability that he wins at least one race.
B) he wins exactly one race.
This is
There is a 30% probability that he wins exactly one race.
C) he wins neither race
Either he wins at least one race, or he wins neither. The sum of these probabilities is 100%.
From a), we have that there is an 80% probability that he wins at least one race.
So there is a 100-80 = 20% probability that he wins neither race.