Pizza is very popular in New England. But due to much competition and cheaper prices y competitors, Pizza Hut is losing customers and consequently the number of stores remaining open in New England has been decreasing at 11% each year. Pizza Hut had 2178 stores in New England in the year 2015. (a) Find a function P(t) that describes the number of Pizza Hut stores in New England t years after 2015. Give k to 4 places to the right of the decimal point. (b) In what year will the number of Pizza Hut stores in New England be half of what it is today (year 2020)? (If you can't solve part (a), make up an appropriate function and use your function in this part.)
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
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