Josh flips a colored chip that is red on one side and black on the other a total of 20 times. what is the probability of the 21th flip resulting in landing on the black side up?

according to this law, when unemployment goes up by 1%, gdp drops by 2%. in the question, unemployment rate goes from 2% to 5%, meaning unemployment goes up by 3%, so the gdp drops by 6%. thus the effect is a drop in gdp by 6%.

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