What is the difference between independent and dependent probabilities?

The assumptions are annually 5% increase in rent, no change in car payment, 2% increase in car insurance, and 15% increase in health insurance from 2010 to 2015.

What the bar chart shows you is trend in increasing cost of living over the 6 years that are captured here.

The pie charts show what percentage of the expenditure went into each category and as you see the health insurance increased from 24% to 34% while your rent went down from 47% to 44%, even though it also experienced an increase. Car payment went down as a percentage since it remained constant.

Please respond to this posting and share your thoughts. Use similar model for your work.

Words: 137

Pie vs Bar Chart.xlsx (31k)

What is the Law of Large Numbers? Give an example.

What is the difference between independent and dependent probabilities? Give an example of each.