Hello, I wanted to know is there a formula for compound interest when making additional payments. i.e. I make payments of $500 ever year for 5 years and NOT just $2500 once for the 5 year term.
The current way I am calculating the result is using Compound Interest of initial payment for one...
Thank you
Thank everyone for your help. My next question is more algebra than probability, but how do I solve for n.
Let's take the dice roll example.
I know p = (1/6), I want my total probability (P) to be 50%, so what does n equals?
np(1-p)^(n-1) = P
(n-1)*LN(np(1-p)) = LN(P)...
Thank you all for your help and patience.
I do believe EnumaElish is correct.
It wouldn't matter if it is 'or' or 'exclusive or' (+). I believe I solved the (+) case.
Would you please explain the math behind 'or'?
your example has
Prob(Sat or Sun) = Prob(Sat & not Sun) + Prob(Sun...
Thank you for your reply, but I was not clear on the situation.
Event: Dice roll
Probability of picking the correct number (P): 1/6
Goal: Pick the correct number once (i.e. for just one day)
The event will happen for the each day of the week, each day the probability of me picking the...
Hello my question is not academic based just personal.
I wanted to know if an event as a probability of P of occurring per day and it occurs everyday for a week. Then, for the week the probability is P?
i.e.
The probability of picking the correct number in a dice roll is 1/6. Then at...