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Is income a type of ordinal data?
Possibly... It depends on how you code income. If income is listed as an actual amount of money earned within a year, then it is interval data because there is a measurable difference between the income of one person vs the income of a second person. For example, one person might make $25,000 and another might make $26,000. We know that the first person makes exactly $1,000 less than person 2. We also know that person 2 makes more than person 1. If I have 10 people and I call the richest person "1" the second richest person "2", etc. Then the numbers 1 - 10 are ordinal data for "income". Notice that Ordinal data does not give us any measurable distance between two people. Income "5" might be $1 more than income "6". But Income 7 might be $10,000 less than income "6". All we know with ordinal data is that 1 is larger than 2, 2 is larger than 3, etc.
What is the probability that a 70 percent free throw shooter would make 1 of 2 shots?
The probability the shooter makes both shots is .7 * .7 = .49, and the probability of making neither is .3 * .3 = .09. So the probability of making exactly 1 out of 2 is 1 - .49 - .9 = .42, or 42 percent.
If you have a 1 percent chance of doing something and you have 30 tries what is your chance of succeeding?
If you have a 1 percent chance of doing something, and you have 30 tries, your chance of succeeding is 26 percent, or 1 - (1 - .01)30.
What is 1 percent of 5 million?
50 thousand Reasoning; Percent, means out of a hundred. so divide 1 million, 1,000,000, by 100. = 10,000 (ten thousand) that is 1 percent of a million. Then multiply that by 5. 10,000 x 5 = 50,000. one percent multiplied by five equals five percent.
What 1 percent of 175000?
1750
