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mezya [45]
3 years ago
14

Scotland has been a member of the United Kingdom since the 1707 Act of Union. In a recent poll, 38% of Scots would vote in favor

of leaving the U.K. A random sample of 135 Scots was selected. What is the probability that between 50 and 60 of them were in favor of leaving the U.K.?
Mathematics
1 answer:
Pani-rosa [81]3 years ago
7 0

Answer:

57.39% probability that between 50 and 60 of them were in favor of leaving the U.K.

Step-by-step explanation:

I am going to use the normal approximmation to the binomial 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:

E(X) = np

The standard deviation of the binomial distribution is:

\sqrt{V(X)} = \sqrt{np(1-p)}

Normal probability distribution

Problems of normally distributed samples can be solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the zscore of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

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 \mu = E(X), \sigma = \sqrt{V(X)}.

In this problem, we have that:

n = 135, p = 0.38

So

\mu = E(X) = np = 135*0.38 = 51.3

\sigma = \sqrt{V(X)} = \sqrt{np(1-p)} = \sqrt{135*0.38*0.62} = 5.6397

What is the probability that between 50 and 60 of them were in favor of leaving the U.K.?

Using continuity correction, this is P(50-0.5 \leq X \leq 60 + 0.5) = P(49.5 \leq X \leq 60.5). So this is the pvalue of Z when X = 60.5 subtracted by the pvalue of Z when X = 49.5. So

X = 60.5

Z = \frac{X - \mu}{\sigma}

Z = \frac{60.5 - 51.3}{5.6397}

Z = 1.63

Z = 1.63 has a pvalue of 0.9484

X = 49.5

Z = \frac{X - \mu}{\sigma}

Z = \frac{49.5 - 51.3}{5.6397}

Z = -0.32

Z = -0.32 has a pvalue of 0.3745

0.9484 - 0.3745 = 0.5739

57.39% probability that between 50 and 60 of them were in favor of leaving the U.K.

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sergey [27]
To solve for the A or the principal amount plus interest you can use two formulas:

A = P + I

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or you can use 

A = P (1+ rt)

Where: P = principal
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             t  = time in years

With your given you can use the second one, without having to use the first. 
Given that the Principal amount is $222 and the rate is 12% and time is 10 years, we first need to convert your rate into decimal by dividing the value in percent by 100 which will yield 0.12. 

Then now we can just input the data that you know into the formula:
A = P(1+ rt)
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Your A is then equal to $488.40

If you need to get the simple interest all you need to use is the first formula given:

A = P + I
for the interest you transpose the P to the side of the A and you will get:
I = A - P
  = $488.40 - $222
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$266.40 is the added interest to the principal amount. 
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