To calculate the Probability With Replacement (P):
\[ P = \left( \frac{n}{N} \right)^r \]
Where:
Probability with replacement refers to a statistical event where an item is drawn from a set and then returned to the set before the next draw. This means that the probability of drawing any particular item remains constant for each draw, as the total number of items does not change. This concept is commonly used in scenarios such as drawing cards from a deck, picking balls from a bag, or selecting a number from a set of numbers.
Let's assume the following values:
Using the formula:
\[ P = \left( \frac{2}{10} \right)^3 = 0.008 \]
The Probability is 0.008.
Let's assume the following values:
Using the formula:
\[ P = \left( \frac{5}{20} \right)^4 = 0.0156 \]
The Probability is 0.0156.
