f=0.03b represents the relationship between fee charged and amount of transfer.
Step-by-step explanation:
Given,
Amount of balance transfer = b
Fee charged on balance transfer = f = 3%
Amount of fee charged on balance transfer = 3% of amount of balance transfer
Amount of fee charged =
Amount of fee charged = 0.03b
Therefore,
f=0.03b
f=0.03b represents the relationship between fee charged and amount of transfer.
Keywords: percent, division
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Answer:
P(X < 126) = 0.0418
Step-by-step explanation:
To solve this question, we use the binomial approximation to the normal to solve this question.
Binomial probability distribution
Probability of exactly x sucesses on n repeated trials, with p probability.
Can be approximated to a normal distribution, using the expected value and the standard deviation.
The expected value of the binomial distribution is:
The standard deviation of the binomial distribution is:
Normal probability distribution
Problems of normally distributed distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
When we are approximating a binomial distribution to a normal one, we have that ,
.
Sample of 203, 67.5% of the U.S. population were born in their state of residence.
This means that
So, for the approximation:
What is the probability that fewer than 126 were born in their state of residence?
Using continuity correction, this is P(X < 126 - 0.5) = P(X < 125.5), which is the pvalue of Z when X = 125.5. So
has a pvalue of 0.0418
So
P(X < 126) = 0.0418
Answer:
Step-by-step explanation:
