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What is the percent chance that a player selects exactly 3 winning numbers?

C ( 20 , 3 ) C ( 60 , 17 ) C ( 80 , 20 ) 12.49 %

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What is the percent chance that a player selects exactly 4 winning numbers?

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What is the percent chance that a player selects all 5 winning numbers?

C ( 20 , 5 ) C ( 60 , 15 ) C ( 80 , 20 ) 23.33 %

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What is the percent chance of winning?

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How much less is a player’s chance of selecting 3 winning numbers than the chance of selecting either 4 or 5 winning numbers?

20.50 + 23.33 12.49 = 31.34 %

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Real-world applications

Use this data for the exercises that follow: In 2013, there were roughly 317 million citizens in the United States, and about 40 million were elderly (aged 65 and over). United States Census Bureau. http://www.census.gov

If you meet a U.S. citizen, what is the percent chance that the person is elderly? (Round to the nearest tenth of a percent.)

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If you meet five U.S. citizens, what is the percent chance that exactly one is elderly? (Round to the nearest tenth of a percent.)

C ( 40000000 , 1 ) C ( 277000000 , 4 ) C ( 317000000 , 5 ) = 36.78 %

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If you meet five U.S. citizens, what is the percent chance that three are elderly? (Round to the nearest tenth of a percent.)

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If you meet five U.S. citizens, what is the percent chance that four are elderly? (Round to the nearest thousandth of a percent.)

C ( 40000000 , 4 ) C ( 277000000 , 1 ) C ( 317000000 , 5 ) = 0.11 %

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It is predicted that by 2030, one in five U.S. citizens will be elderly. How much greater will the chances of meeting an elderly person be at that time? What policy changes do you foresee if these statistics hold true?

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Chapter review exercises

Sequences and Their Notation

Write the first four terms of the sequence defined by the recursive formula a 1 = 2 , a n = a n 1 + n .

2 , 4 , 7 , 11

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Evaluate 6 ! ( 5 3 ) ! 3 ! .

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Write the first four terms of the sequence defined by the explicit formula a n = 10 n + 3.

13 , 103 , 1003 , 10003

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Write the first four terms of the sequence defined by the explicit formula a n = n ! n ( n + 1 ) .

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Arithmetic Sequences

Is the sequence 4 7 , 47 21 , 82 21 , 39 7 , ... arithmetic? If so, find the common difference.

The sequence is arithmetic. The common difference is d = 5 3 .

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Is the sequence 2 , 4 , 8 , 16 , ... arithmetic? If so, find the common difference.

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An arithmetic sequence has the first term a 1 = 18 and common difference d = 8. What are the first five terms?

18 , 10 , 2 , 6 , 14

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An arithmetic sequence has terms a 3 = 11.7 and a 8 = 14.6. What is the first term?

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Write a recursive formula for the arithmetic sequence 20 , 10 , 0 , 10 ,…

a 1 = 20 ,   a n = a n 1 + 10

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Write a recursive formula for the arithmetic sequence 0 ,   1 2 ,   1 ,   3 2 , , and then find the 31 st term.

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Write an explicit formula for the arithmetic sequence 7 8 ,   29 24 ,   37 24 ,   15 8 ,

a n = 1 3 n + 13 24

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How many terms are in the finite arithmetic sequence 12 , 20 , 28 , , 172 ?

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Geometric Sequences

Find the common ratio for the geometric sequence 2.5 ,   5 ,   10 ,   20 ,

r = 2

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Is the sequence 4 ,   16 ,   28 ,   40 , geometric? If so find the common ratio. If not, explain why.

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A geometric sequence has terms a 7 = 16 , 384 and a 9 = 262 , 144  . What are the first five terms?

4 ,   16 ,   64 ,   256 ,   1024

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A geometric sequence has the first term a 1 = 3 and common ratio r = 1 2 . What is the 8 th term?

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Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Practice Key Terms 9

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Source:  OpenStax, Algebra and trigonometry. OpenStax CNX. Nov 14, 2016 Download for free at https://legacy.cnx.org/content/col11758/1.6
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