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Unit 5 Ratios

reciprocal rates two rates in which the quantities are compared in both orders
conversion rate a rate determined from an equality between two quantities with different units
ratio a quotient of two quanitities with the same units (how many times larger one number is compared to another)
tax rate the ratio of the tax amount to the selling price
discount rate ratio of the discount to the original price
outcome the possiblities or results of an experiment
event a set of outcomes
probability a number from 0 to 1 that measures how likely it is that the event will happen
probability distributions the set of ordered pairs of coutcomes and their probabilities
unbiased fair
conditional probability the probability that an event will occur given that another event has occurred
complementary events two events that have no elements in common, but together they contain all possible outcomes
odds of an event occurring the ratio of the probability that the event will occur to the probability that the event will not occur
Created by: bellamoo18