<h3>
Answer: $7,853.16</h3>
Work Shown:
A = P*(1+r/n)^(n*t)
A = 4750*(1+0.10/2)^(2*10)
A = 12,603.164099436
A = 12,603.16
That represents the account balance after 10 years. To find the interest only, subtract off the deposit amount.
interest = A-P = 12,603.16 - 4,750 = 7,853.16
Answer:
We know that n = 50 and p =0.78.
We need to check the conditions in order to use the normal approximation.
Since both conditions are satisfied we can use the normal approximation and the distribution for the proportion is given by:

With the following parameters:


Step-by-step explanation:
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Solution to the problem
We know that n = 50 and p =0.78.
We need to check the conditions in order to use the normal approximation.
Since both conditions are satisfied we can use the normal approximation and the distribution for the proportion is given by:

With the following parameters:


The price of one ticket is $ 62.2
<h3><u>Solution:</u></h3>
Given that a performer expects to sell 5000 tickets for an upcoming event
They want to make a total of $ 311, 000 in sales from these tickets
<em><u>To find: price of one ticket</u></em>
Let us assume that all tickets have the same price
Let "a" be the price of one ticket
So the total sales price of $ 311, 000 is obtained from product of 5000 tickets and price of one ticket


Thus the price of one ticket is $ 62.2