Compute and Interpret Probabilities Using the Classical Method
-A Single $\{ ( 1,1 ) , ( 1,2 ) , ( 1,3 ) , ( 1,4 ) , ( 1,5 ) , ( 1,6 )$

question 259

Multiple Choice

Compute and Interpret Probabilities Using the Classical Method
-A single die is rolled twice. The set of 36 equally likely outcomes is $\{ ( 1,1 ) , ( 1,2 ) , ( 1,3 ) , ( 1,4 ) , ( 1,5 ) , ( 1,6 )$ , $( 2,1 )$ , $( 2,2 ) , ( 2,3 ) , ( 2,4 ) , ( 2,5 ) , ( 2,6 ) , ( 3,1 ) , ( 3,2 ) , ( 3,3 ) , ( 3,4 ) , ( 3,5 ) , ( 3,6 ) , ( 4,1 ) , ( 4,2 ) , ( 4,3 ) , ( 4,4 ) , ( 4,5 ) , ( 4,6 ) , ( 5,1 )$ , $( 5,2 ) , ( 5,3 ) , ( 5,4 ) , ( 5,5 ) , ( 5,6 ) , ( 6,1 ) , ( 6,2 ) , ( 6,3 ) , ( 6,4 ) , ( 6,5 ) , ( 6,6 ) \}$ . Find the probability of getting two numbers whose sum is greater than 10 .

• A) \(\frac { 1 } { 12 }\)
• B) \(\frac { 5 } { 18 }\)
• C) \(\frac { 1 } { 18 }\)
• D) 3

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Definitions:

Annual Interest Rate

The percentage that is applied to a sum of money, including loans or savings, indicating the amount earned or paid over a year.

Interest Rates

The cost of borrowing money or the return for investing money, usually expressed as a percentage of the principal amount.

Future Dollars

Currency value projected at a future date, often used in the context of inflation or investment growth.

Net Present Value

The difference between the present value of cash inflows and outflows over a period of time, used in capital budgeting to assess the profitability of an investment.