If $650 is invested in a bank account that earns a nominal 2.5% yearly interest, compounded quarterly, then how much is the inve
1 answer:
Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
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Step-by-step explanation:
Answer:
B.The probability 0+ indicates that the probability is a very small positive value. It indicates that the event is possible, but very unlikely.
Step-by-step explanation:
Out of 1009 consumers a sample of 30 consumers is selected and asked the questions. So, the sample size is 30.
n = 30
Based on previous survey, 42% are comfortable with the drone. So in this sample, we can consider the probability of success to be 42%.
p = 42% = 0.42
q = 1 - p = 1 - 0.42 = 0.58
We want to find the probability of getting exactly 24 consumers who are comfortable with drones.
x = 24
Since, the sample size is fixed, the selections are independent and probability of success is constant, we can use the Binomial Probability to answer this problem. All the conditions of a Binomial Distribution are being satisfied.
According to the formula of Binomial Distribution, the probability of getting exactly x success among n trials is given as:
Using the values, we get:
Thus, the probability of getting exactly 24 consumers from a sample of 30 who are comfortable with drones is 0.00002, which is extremely small.
Since, the value of probability is a very small positive number, it indicates that event is possible but very unlikely. An impossible event has probability equal to 0.
Therefore, option B gives the correct answer.