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Since the rock formation contains both types of fossils the ago of the rock formation must be in the overlapping date range of 415 to 420 million years.
Studying the layers of rock or strata can also be useful. If a layer of rock containing the fossil is higher up in the sequence that another layer, you know that layer must be younger in age. This can often be complicated by the fact that geological forces can cause faulting and tilting of rocks.
The majority of the time fossils are dated using relative dating techniques.
Index fossils are fossils that are known to only occur within a very specific age range.
Typically commonly occurring fossils that had a widespread geographic distribution such as brachiopods, trilobites, and ammonites work best as index fossils.
If a radioactive isotope is said to have a half-life of 5,000 years that means after 5,000 years exactly half of it will have decayed from the parent isotope into the daughter isotopes.
Then after another 5,000 years half of the remaining parent isotope will have decayed.