Posted by ali on .
hi!
how would you figure out a problem where you are given a probability of success for 12 people and you are trying to find the probability of success for 1 person?

probability 
economyst,
Can you assume the probability of success is the same for everybody? Does success for 12 mean that each person was successful? If so.
Let p=probablity of success for one person. Let x be the known probability of success for 12 people.
So for 12 people p^12 = x.
Take natural logs of both sides.
12*ln(p) = ln(x). So
ln(p) = ln(x)/12. Ln(x)/12 is a known number  call it h.
so p = e^h.
QED
Take the natural logs of both sides.