You are running a corner store and below is the list of items you are selling there. Chewing gum, $1.00 Candy cane, $1.50 Chocolate ice cream, $1.50 Chocolate cookie, $2.00 Lollipop, $2.50 Assume that every customer buys only one item at a time. After running the store for a year, you have learned that, out of every 10 customers, 1 person buys a chewing gum, 2 people buy a candy cane, 1 person buys a chocolate ice cream, 2 people buy a chocolate cookie, and 4 people buy a lollipop. Let S be the sample space of an item that a random customer buys and X be a random variable such that X is the price of the item purchase. Let R be the range of the random variable X. Evaluate P(X=1.50) / P(X=2.50).
Permutations and Combinations
If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.
You are running a corner store and below is the list of items you are selling there.
- Chewing gum, $1.00
- Candy cane, $1.50
- Chocolate ice cream, $1.50
- Chocolate cookie, $2.00
- Lollipop, $2.50
Let S be the
Evaluate P(X=1.50) / P(X=2.50).
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