In this case probability is the likelihood that from 264 customers one customer wins free gallon of milk with his food purchase, or in other words the probability that one customer receives a star on his receipt.
Probability is the ratio of the number of favorable outcomes to the total number of all possible events. From 264 customers, 219 have not received a star. The opposite is to receive a star and that is the situation: (1-219)/264=0.17,
P ( A ∩ B ∩ C) = 1/365
P(A) = 1/365, P(B)= 1/365, P(C) = 365
If events A,B and C are independed then P (A ∩ B ∩ C) = P (A) P(B) P(C) must be true,
From the probabilities we have
1/365≠ 1/365 * 1/365 * 1/365
Thus, events A,B, C are not independent.
Answer:
Step-by-step explanation:
We would apply the formula for exponential decay which is expressed as
A = P(1 - r/n)^ nt
Where
A represents the value after t years.
n represents the period for which the decrease in value is calculated
t represents the number of years.
P represents the value population.
r represents rate of decrease.
From the information given,
P = 23000
r = 8% = 8/100 = 0.08
n = 1
Therefore, the exponential decay function described in this situation is
A = 23000(1 - 0.08/n)1)^ 1 × t
A = 23000(0.92)^t
If A = 15000, then
15000 = 23000(0.92)^t
0.92^t = 15000/23000 = 0.6522
Taking log of both sides to base 10
Log 0.92^t = log 0.6522
tlog 0.92 = log 0.6522
- 0.036t = - 0.1856
t = - 0.1856/- 0.036
t = 5 years to the nearest year
