On February 27 you win a raffle and receive the grand prize of $4000. You decide to invest it into a money market account that i
1 answer:
Answer:
The approximate value of the investment in one year is 4183.
Step-by-step explanation:
The formula for finding the compound interest for one year that compounded quarterly is :
Here,
P - Principal = 4000
r - 4.5%
t - 1
Therefore,
= 4183.08
Hence, the approximate value of the investment in one year is 4183.
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Using the binomial distribution, it is found that there is a 38% probability that exactly 18 of them say job applicants should follow up within two weeks.
<h3>How to find that a given condition can be modelled by binomial distribution?</h3>Binomial distributions consists of n independent Bernoulli trials.
Bernoulli trials are those trials that end up randomly either on success (with probability p) or on failures( with probability 1- p = q (say))
The probability that out of n trials, there'd be x successes is given by
Binomial probability distribution
The parameters are:
n is the number of trials.
x is the number of successes.
p is the probability of success on a single trial.
In this problem:
62% say job applicants should follow up within two weeks, p = 0.62
25 managers are selected, n = 25
The probability that exactly 18 of them say job applicants should follow up within two weeks is P ( X = 18)
P( X > 18) = 1 - ( X = 18)
= 1 - 0.62
= 0.38
38 % probability that exactly 18 of them say job applicants should follow up within two weeks.
Learn more about binomial distribution here:
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