Find the interest paid on a $50,000 loan with 5.5% simple interest for 7 years.
1 answer:
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Answer:
The rate of change is 0.75 gallons per minute
Step-by-step explanation:
The rate of change of the linear relation is represented by the slope of the line which represents this relation
The rule of the slope of a line is
m = Δy/Δx, where
- Δy is the vertical change
- Δx is the horizontal change
From the given graph
∵ The line passes through points (0, 0) and (4, 3)
∴ Δx = 4 - 0 = 4
∴ Δy = 3 - 0 = 3
→ Use the rule of the slope above to find the slope of the line
∴ m = = 0.75
∵ The x-axis represents the time in minutes
∵ The y-axis represents the amount in gallons
∵ m represents the rate of change
∴ The rate of change = 0.75 gallons per minute
Answer:
The average hold time is 10.47 minutes.
Step-by-step explanation:
Let <em>X</em> = time the customers of a phone-in technical support business spend on hold.
The population mean of the random variable <em>X</em> is, <em>μ</em> = 11 minutes.
The population standard deviation of the random variable <em>X</em> is, <em>σ </em>= 1.16 minutes.
A random sample size, <em>n</em> = 62 callers are selected.
According to the Central limit theorem if large samples (<em>n</em> > 30) are selected from an unknown population with mean <em>μ</em> and standard deviation <em>σ</em> then the sampling distribution of sample mean () follows a Normal distribution.
The mean of the sampling distribution of sample mean is:
The standard deviation of the sampling distribution of sample mean is:
It is provided that .
Compute the value of <em>a</em> as follows:
The value of <em>z</em> for the above probability is, <em>z</em> = -0.806.
The value of <em>a</em> is:
Thus, the average hold time is 10.47 minutes.