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A man invests $8 000 at 12% simple interest for 3 years. If he invests the same amount of money for the same time period at 12%
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Answer: 90% of people getting married for the first time get married before age of 31.13.
Step-by-step explanation:
Given : The average age () for a person getting married for the first time is 26 years (U.S. News and World Report, June 6, 1994).
We assume that the ages for first marriages have a normal distribution with a standard deviation () of 4 years.
Let x be the age before that 90% of people getting married for the first time get married.
From z-table , the value corresponds to p-value of 0.90 is 1.28155.
Formula :
Hence, 90% of people getting married for the first time get married before age of 31.13.