Percents, ratios, probability

Front

What is a percent?

Back

A percent is a ratio expressed as a fraction of 100. It represents a part per hundred.

Front

How do you calculate the percentage of a number?

Back

To calculate the percentage of a number, multiply the number by the percentage (in decimal form). For example, to find 20% of 50, calculate 50 * 0.20 = 10.

Front

What is a ratio?

Back

A ratio is a comparison of two quantities, showing the relative sizes of two or more values. It can be expressed in the form a:b or as a fraction a/b.

Front

How do you simplify a ratio?

Back

To simplify a ratio, divide both terms by their greatest common divisor (GCD). For example, the ratio 8:12 simplifies to 2:3.

Front

What is probability?

Back

Probability is a measure of the likelihood that an event will occur, expressed as a number between 0 (impossible) and 1 (certain).

Front

How do you calculate the probability of an event?

Back

The probability of an event is calculated by dividing the number of favorable outcomes by the total number of possible outcomes. P(Event) = Favorable Outcomes / Total Outcomes.

Front

What is the probability of drawing a specific letter from a word?

Back

To find the probability of drawing a specific letter from a word, divide the number of times that letter appears by the total number of letters in the word.

Front

What is the formula for calculating commission?

Back

Commission = Total Sales * Commission Rate. For example, if the commission rate is 10% and total sales are $1000, the commission is $1000 * 0.10 = $100.

Front

What does it mean to replace an item in probability?

Back

Replacing an item in probability means that after an item is drawn, it is put back into the set before the next draw, keeping the total number of items constant.

Front

What is the probability of independent events?

Back

The probability of independent events occurring together is the product of their individual probabilities. P(A and B) = P(A) * P(B).