If You Roll a Pair of Fair Dice,what Is the Probability

question 46

Essay

If you roll a pair of fair dice,what is the probability that the number of dots on the two dice will sum to eight or higher?

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Definitions:

Labor Demand

The quantity of labor that employers are willing and able to hire at a given wage rate, in a given time period.

Deadweight Loss

The falloff in economic efficiency that strikes when equilibrium for a good or service isn’t met or is beyond reach.

Tax Revenue

The revenue governments receive as a consequence of taxes.

Deadweight Loss

Failure to reach free market equilibrium for a good or service leads to a loss in economic efficiency.