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QUAN 2010 Notes Introduction to Business Statistics

Section 4.3 Scientific Notation Reminder

When Excel calculates very small probabilities, it often shows the result in scientific notation.
Suppose you use Excel to calculate a probability and it gives the output: 4.7E-08.
This means:
\begin{equation*} 4.7\times 10^{-8}=0.000000047 \end{equation*}
So the probability is \(0.000000047\text{,}\) which is very small!

Exercise 4.3.1.

Convert each probability from Excel’s scientific notation into standard decimal form: