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2 years ago

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Steven starts a savings account with $10,000. He earns 7% annual interest. How much will be in the account after 6 years. Round

to the nearest dollar. Thank you!

1 answer:

sveta [45]2 years ago

7 0

So the equation is A = P(1+rt)
A = 10,000(1+0.07*6)
A = 10,000(1+0.42)
A = 14,200.00

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A survey report states that 70% of adult women visit their doctors for a physical examination at least once in two years. If 20

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Answer:

a) 0.3921 = 39.21% probability that fewer than 14 of them have had a physical examination in the past two years.

b) 0.107 = 10.7% probability that at least 17 of them have had a physical examination in the past two years.

Step-by-step explanation:

For each women, there are only two possible outcomes. Either they visit their doctors for a physical examination at least once in two years, or they do not. The probability of a woman visiting their doctor at least once in this period is independent of any other women. This means that we use the binomial probability distribution to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

In which $C_{n,x}$ is the number of different combinations of x objects from a set of n elements, given by the following formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of X happening.

70% of adult women visit their doctors for a physical examination at least once in two years.

This means that $p = 0.7$

20 adult women

This means that $n = 20$

(a) Fewer than 14 of them have had a physical examination in the past two years.

This is:

$P(X < 14) = 1 - P(X \geq 14)$

In which

$P(X \geq 14) = P(X = 14) + P(X = 15) + P(X = 16) + P(X = 17) + P(X = 18) + P(X = 19) + P(X = 20)$

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 14) = C_{20,14}.(0.7)^{14}.(0.3)^{6} = 0.1916$

$P(X = 15) = C_{20,15}.(0.7)^{15}.(0.3)^{5} = 0.1789$

$P(X = 16) = C_{20,16}.(0.7)^{16}.(0.3)^{4} = 0.1304$

$P(X = 17) = C_{20,14}.(0.7)^{17}.(0.3)^{3} = 0.0716$

$P(X = 18) = C_{20,18}.(0.7)^{18}.(0.3)^{2} = 0.0278$

$P(X = 19) = C_{20,19}.(0.7)^{19}.(0.3)^{1} = 0.0068$

$P(X = 20) = C_{20,20}.(0.7)^{20}.(0.3)^{0} = 0.0008$

So

$P(X \geq 14) = P(X = 14) + P(X = 15) + P(X = 16) + P(X = 17) + P(X = 18) + P(X = 19) + P(X = 20) = 0.1916 + 0.1789 + 0.1304 + 0.0716 + 0.0278 + 0.0068 + 0.0008 = 0.6079$

$P(X < 14) = 1 - P(X \geq 14) = 1 - 0.6079 = 0.3921$

0.3921 = 39.21% probability that fewer than 14 of them have had a physical examination in the past two years.

(b) At least 17 of them have had a physical examination in the past two years

$P(X \geq 17) = P(X = 17) + P(X = 18) + P(X = 19) + P(X = 20)$

From the values found in item (a).

$P(X \geq 17) = P(X = 17) + P(X = 18) + P(X = 19) + P(X = 20) = 0.0716 + 0.0278 + 0.0068 + 0.0008 = 0.107$

0.107 = 10.7% probability that at least 17 of them have had a physical examination in the past two years.

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I will go about solving this using the elimination method.

First, convert the equations.

10x + y = -20
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Second, find the easiest variable to get rid of and get rid of it! (In this case, y) We will subtract to get rid of y.

6x = -8

Third, you want to solve the equation.

6x = -8 (divide by 6)
x = $-1 \frac{1}{3}$

Fourth, solve for y by inserting the answer for x into one of the equations.

10( $-1 \frac{1}{3}$ ) + y = -20
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The solution for this system of equations is ( $-1 \frac{1}{3}$ , $-6 \frac{2}{3}$ ).

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