Hi there,
The comments will be written between each line of calculation.
0.9450 = 0.85p + 1 - p
you can get rid of the bracket, since there are only addition and
subtracting within and around the bracket.
0.9450 - 1 = 0.85p + 1 - p - 1
subtract 1 on each side, essentially "moving" the +1 on the right side to the left.
-0.055 = -0.15p
this is the result of the above operation.
-0.055 / (-0.15) = -0.15p / (-0.15)
divide both sides of the equation by (-0.15) so that you can isolate p
and make its coefficient equal to 1.
11/30 = p
you now have the value for p, which is 11/30, or 0.367 rounded to the
third decimal place.
If you would like clarification on any part of this answer, please
feel free to ask for one and I'd be happy to help until you're
completely satisfied.
Cheers,
Tox-ga |