Find the Conditional Probability $\frac { 4 } { 17 }$

question 41

Multiple Choice

Find the conditional probability.
-If two cards are drawn at random without replacement from a standard deck, find the probability that the second card is a face card, given that the first card was a queen.

• A) \(\frac { 4 } { 17 }\)
• B) \(\frac { 3 } { 13 }\)
• C) \(\frac { 5 } { 17 }\)
• D) \(\frac { 11 } { 51 }\)

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Definitions:

Long Run

A period of time in economics where all factors of production and costs are variable, and all market adjustments have been made.

Futures Contracts

Standardized legal agreements to buy or sell something at a predetermined future date and price, typically used for commodities or financial instruments.

Forward Contracts

Non-standardized contracts between two parties to buy or sell an asset at a specified future time at a price agreed upon today.

Default Free

An investment that is considered to have no risk of failure to pay back principal or interest.