Use estimation to help you choose the correct answer. 0.945 x 7.6 =

Mathematics

1 answer:

hoa [83]3 years ago

7 0

Remark

The thing you must not do is write 7.182 as your answer. That is the exact answer found using a calculator.

What to do.

What you should do is multiply two rounded numbers together.

7.6 rounded is 8 roughly

0.945 is almost 1.

Your answer is 8*1 = 8 roughly. This skill is very handy when you are writing a test and you want to see if you've done the question correctly. It is easy to misplace a decimal or put in incorrect digits and this is a quick check on things like that.

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Answer:

The sales level that has only a 3% chance of being exceeded next year is $3.67 million.

Step-by-step explanation:

When the distribution is normal, we use 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.

In this question, we have that:

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$\mu = 3.2, \sigma = 0.25$

Determine the sales level that has only a 3% chance of being exceeded next year.

This is the 100 - 3 = 97th percentile, which is X when Z has a pvalue of 0.97. So X when Z = 1.88.

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

$1.88 = \frac{X - 3.2}{0.25}$

$X - 3.2 = 0.25*1.88$

$X = 3.67$

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