Luis purchases a collectible model car from a dealer. The dealer advises him that the car’s value (The car value is $75 now) wil
2 answers:
Answer: $178
Step-by-step explanation:
We know that the exponential growth equation with rate of growth r in time period x is given by :-
, A is the initial value .
Given: The initial value of car = $75
Rate of growth : 9%=0.09
Now, the function represents the car's value after x years is given by ;-
Thus, the value of the model car after 10 years is given by :-
[To the nearest dollar]
Hence, the estimated value of the model car after 10 years = $178
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Using the binomial distribution, the probabilities are given as follows:
a) 0.4159 = 41.59%.
b) 0.5610 = 56.10%.
c) 0.8549 = 85.49%.
<h3>What is the binomial distribution formula?</h3>The formula is:
The parameters are:
- x is the number of successes.
- n is the number of trials.
- p is the probability of a success on a single trial.
For this problem, the values of the parameters are:
n = 3, p = 0.76.
Item a:
The probability is P(X = 2), hence:
Item b:
The probability is P(X < 3), hence:
P(X < 3) = 1 - P(X = 3)
In which:
Then:
P(X < 3) = 1 - P(X = 3) = 1 - 0.4390 = 0.5610 = 56.10%.
Item c:
The probability is:
More can be learned about the binomial distribution at brainly.com/question/24863377
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