What is the diameter of the circle? Enter your answer in the box. _____units
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We can plot this data on MS Excel and determine the distribution of these data reflected on the graph. Among these numbers, 50 is the outlier since it is very far from the other numbers ranging from 76 to 83. We can perform interquartile range to determine or verify the outliers in the data set. In this respect, we can see that there is not much distribution seen. The average of all data sets is equal to 96.25. When the outlier (50) is removed, we expect the mean to become higher since a low number was ommitted including high numbers only. Outliers are obtained from special causations such as human errors.
The compound interest formula is :
where, A= Future value including the interest,
P= Principle amount, r= rate of interest in decimal form,
t= number of years and n= number of compounding in a year
Here, in this problem P= $ 51,123.21 , t= 20 years and 2 months
So, t= 20 + (2/12) years
t= 20 + 0.17 = 20.17 years
As the amount is compounded daily, so n= (12×30)= 360 [Using the traditional Banker’s rule of 30 days per month]
Thus,
When the interest rate is given, then we can use this equation for finding the future value.