The value of a car is depreciating at a rate of 5% per year. In 2010, the car was worth $32,000. Find the value of the car in 20
1 answer:
Data:
Depreciating: The value decrease
Rate: 5% per year
2010: $32,000
2013: $?
Step 1: As depreciating means decrease, the value of the car is decaying
Step 2 and step 3: You use the formula below to find the value of the car after 3 years (as the value is decaying the rate in the formula is substracting)
Final value: F
Principal value: P=32000
rate: r=5
Time in years: n=3 (2013-2010=3)
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Answer:
a) The probability that at least 2 of them started smoking before 21 years of age is 0.1875 = 18.75%.
b) The probability that at most 4 of them started smoking before 21 years of age is 0.96875 = 96.875%.
c) The probability that exactly 3 of them started smoking before 21 years of age is 0.3125 = 31.25%.
Step-by-step explanation:
For each smoker, there are only two possible outcomes. Either they started smoking before 21 years old, or they did not. Smokers are independent, which means that the binomial probability distribution is used to solve this question.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
50% of adult smokers started smoking before 21 years old.
This means that
5 smokers 21 years old or older are randomly selected, and the number of smokers who started smoking before 21 is recorded.
This means that .
a) The probability that at least 2 of them started smoking before 21 years of age is
This is:
In which
The probability that at least 2 of them started smoking before 21 years of age is 0.1875 = 18.75%.
b) The probability that at most 4 of them started smoking before 21 years of age is
This is:
In which
The probability that at most 4 of them started smoking before 21 years of age is 0.96875 = 96.875%.
c) The probability that exactly 3 of them started smoking before 21 years of age is
This is P(X = 3). So
The probability that exactly 3 of them started smoking before 21 years of age is 0.3125 = 31.25%.