7. This chapter talked about the idea of independent events. a. Suppose you draw a card from...

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7. This chapter talked about the idea of independent events.

a. Suppose you draw a card from a standard deck of cards, you put that card back in the deck, and draw a second card. Are the events “Draw a diamond the first time” and “Draw a diamond the second time” independent events?

b. Suppose you draw a card from a standard deck of cards, you do not put that card back in the deck, and draw a second card. Are the events “Draw a diamond the first time” and “Draw a diamond the second time” independent events?

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Microeconomics

ISBN: 9781292214351

2nd Global Edition

Authors: Daron Acemoglu, David Laibson, John List

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