The House Ways and Means Committee is considering lowering airline taxes. The committee has 38 members and needs a simple majority to pass the new legislation. If the probability that each member votes yes is 0.25, find the probability that the legislation will pass. (Assume independence.) Given that taxes are reduced, the probability that Northwest Airlines will compete successfully is 0.7. If the resolution does not pass, Northwest cannot compete successfully. Find the probability that Northwest can compete successfully.
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.
The House Ways and Means Committee is considering lowering airline
taxes. The committee has 38 members and needs a simple majority to pass the new
legislation. If the
that the legislation will pass. (Assume independence.)
Given that taxes are reduced, the probability that Northwest Airlines will compete
successfully is 0.7. If the resolution does not pass, Northwest cannot compete
successfully. Find the probability that Northwest can compete successfully.
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