Assignment:
What are some practical uses of probability theory ? Can you think of two examples in your work day or personal experiences ?
There are two bags each containing red balls and blue balls. Bag A contains 1 red and 4 blue balls. Bag B contains 3 red and 13 blue balls. Lucky Louie says you should always choose Bag B if you are trying to draw a red ball because it has more red balls than Bag A. How do you respond ?
Provide complete and step by step solution for the question and show calculations and use formulas.