Gina deposit $150 at the start of each year into a college savings account that pays 4% simple interest at the end of each year.
1 answer:
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Answer:
(a) 0.7967
(b) 0.6826
(c) 0.3707
(d) 0.9525
(e) 0.1587
Step-by-step explanation:
The random variable <em>X</em> follows a Normal distribution with mean <em>μ</em> = 10 and variance <em>σ</em>² = 36.
(a)
Compute the value of P (X > 5) as follows:
Thus, the value of P (X > 5) is 0.7967.
(b)
Compute the value of P (4 < X < 16) as follows:
Thus, the value of P (4 < X < 16) is 0.6826.
(c)
Compute the value of P (X < 8) as follows:
Thus, the value of P (X < 8) is 0.3707.
(d)
Compute the value of P (X < 20) as follows:
Thus, the value of P (X < 20) is 0.9525.
(e)
Compute the value of P (X > 16) as follows:
Thus, the value of P (X > 16) is 0.1587.
**Use a <em>z</em>-table for the probabilities.