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Juli2301 [7.4K]
2 years ago
11

How to calculate annuity ​

Mathematics
1 answer:
qaws [65]2 years ago
4 0

Answer:

The formula for determining the present value of an annuity is PV = dollar amount of an individual annuity payment multiplied by P = PMT * [1 – [ (1 / 1+r)^n] / r] where: P = Present value of your annuity stream. PMT = Dollar amount of each payment. r = Discount or interest rate.

Step-by-step explanation:

Hope this helps :) :)

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Scores of an IQ test have a​ bell-shaped distribution with a mean of 100 and a standard deviation of 17. Use the empirical rule
-BARSIC- [3]

Answer:

(a) 95% of people have an IQ score between 66 and 134.

(b) 32% of people have an IQ score of less than 83 or greater than 117​.

(c) 16% of people have an IQ score greater than 117.

Step-by-step explanation:

We are given that scores of an IQ test have a​ bell-shaped distribution with a mean of 100 and a standard deviation of 17.

Let X = <u><em>scores of an IQ test</em></u>

SO, X ~ Normal(\mu=100, \sigma^{2} = 17^{2})

The z-score probability distribution for the normal distribution is given by;

                      Z  =  \frac{X-\mu}{\sigma}  ~ N(0,1)

<u>Now, the empirical rule states that;</u>

  • 68% of the data values lie within 1 standard deviation from the mean.
  • 95% of the data values lie within 2 standard deviations from the mean.
  • 99.7% of the data values lie within 3 standard deviations from the mean.

(a) The percentage of people having an IQ score between 66 and 134 is given by;

     z score for 66 =  \frac{X-\mu}{\sigma}  =  \frac{66-100}{17}  = -2

     z score for 134 =  \frac{X-\mu}{\sigma}  =  \frac{134-100}{17}  = 2

This means that the percentage of people having an IQ score between 66 and 134 is 95%.

(b) Firstly, we have to find the percentage of people having an IQ score between 83 and 117;

     z score for 83 =  \frac{X-\mu}{\sigma}  =  \frac{83-100}{17}  = -1

     z score for 117 =  \frac{X-\mu}{\sigma}  =  \frac{117-100}{17}  = 1

This means that the percentage of people having an IQ score between 83 and 117 is 68%.

This means that the percentage of people having an IQ score of less than 83 or greater than 117 = 100% - 68% = 32%.

(c) In the above part, we find that there are 32% of the values that have an IQ score of less than 83 or greater than 117.

This means that half of this will be less than 83 and half of this will be greater than 117.

So, the percentage of people having an IQ score greater than 117​ = \frac{32\%}{2} = 16%.

8 0
3 years ago
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