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Saul Goodman represents several clients and bills at $400 per hour. He forgot to record the time it took to complete each activity, but he knows his eight-hour day was spent representing three consecutive clients involved in one high profile case. He also remembers that Walt told him once that his learning curve percentage was 85%. How much should Saul bill each of his three clients?
Relative Frequency
The ratio of the number of times a value occurs to the total number of observations in a dataset.
Population
The entire group of individuals or items from which samples may be drawn for statistical analysis.
Probability
The likelihood of an event or outcome occurring, calculated as the ratio of favorable cases to the total number of possible cases.
Freshmen Class
A group or cohort of students who are in their first year of secondary or post-secondary education.
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