A crypto trader has been studying the performance of a coin and found out the coin's value on any given day either goes up or down by one point. After studying for 6 months, she noticed it only went up for 25% of the days and went down for the rest. We want to find the probability that the coin will be of a certain value on a particular day. Assume that the daily movements in the coin’s value are independent events. What is the probability that the price of the coin has increased from its current value after 3 days?
A crypto trader has been studying the performance of a coin and found out the coin's value on any given day either goes up or down by one point. After studying for 6 months, she noticed it only went up for 25% of the days and went down for the rest. We want to find the probability that the coin will be of a certain value on a particular day. Assume that the daily movements in the coin’s value are independent events. What is the probability that the price of the coin has increased from its current value after 3 days?
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 18T: You attend a karaoke night and hope to hear your favorite song. The karaoke song book has 300...
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A crypto trader has been studying the performance of a coin and found out the coin's value on any given day either goes up or down by one point. After studying for 6 months, she noticed it only went up for 25% of the days and went down for the rest. We want to find the probability that the coin will be of a certain value on a particular day. Assume that the daily movements in the coin’s value are independent events. What is the probability that the price of the coin has increased from its current value after 3 days?
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