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timama [110]
3 years ago
9

You decide to put $150 in a savings account to save for a $3,000 down payment on a new car. If the account has an interest rate

of 2.5% per year and is compounded monthly, how long does it take you to earn $3,000 without depositing any additional funds? (3 points)
10.1101 years

119.954 years

121.321 years

134.34 years
Mathematics
1 answer:
garik1379 [7]3 years ago
3 0
After 121 years, you would have $3079.40

So 121.321 years is correct
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The delivery times for all food orders at a fast-food restaurant during the lunch hour are normally distributed with a mean of m
UkoKoshka [18]

Answer:

Let X the random variable that represent the delivery times of a population, and for this case we know the distribution for X is given by:

X \sim N(14.7,3.7)  

Where \mu=14.7 and \sigma=3.7

Since the distribution of X is normal then we know that the distribution for the sample mean \bar X is given by:

\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}})

And we have;

\mu_{\bar X}= 14.70

\sigma_{\bar X} =\frac{3.7}{\sqrt{40}}= 0.59

Step-by-step explanation:

Assuming this question: The delivery times for all food orders at a fast-food restaurant during the lunch hour are normally distributed with a mean of 14.7 minutes and a standard deviation of 3.7 minutes. Let R be the mean delivery time for a random sample of 40 orders at this restaurant. Calculate the mean and standard deviation of \bar X Round your answers to two decimal places.

Previous concepts

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".  

Solution to the problem

Let X the random variable that represent the delivery times of a population, and for this case we know the distribution for X is given by:

X \sim N(14.7,3.7)  

Where \mu=14.7 and \sigma=3.7

Since the distribution of X is normal then we know that the distribution for the sample mean \bar X is given by:

\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}})

And we have;

\mu_{\bar X}= 14.70

\sigma_{\bar X} =\frac{3.7}{\sqrt{40}}= 0.59

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