Answer:
10.1 years.
Step-by-step explanation:
It is given that,
Principal = 9000
Rate of interest = 5%
No. of times interest compounded = 2 times in an year
Amount after certain time = 14800
The formula for amount:
where, P is principal, r is rate of interest, n is no. of times interest compounded in an year and t is time in years.
Substitute the given values in the above formula.
Taking log both sides.
Therefore, the required time is 10.1 years.
Answer:
And using the normal standard table or excel we find the probability:
Step-by-step explanation:
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 avergae number of weeks an individual is unemployed of a population, and for this case we know the distribution for X is given by:
Where and
Since the distribution for X is normal then, the distribution for the sample mean is given by:
We select a sample of n =50 people. And we want to find the following probability
And using the normal standard table or excel we find the probability:
