How would write 42 as an operation???
2 answers:
You might be interested in
Answer:
(a) 0.00605
(b) 0.0403
(c) 0.9536
(d) 0.98809
Step-by-step explanation:
We are given that 40% of first-round appeals were successful (The Wall Street Journal, October 22, 2012) and suppose ten first-round appeals have just been received by a Medicare appeals office.
This situation can be represented through Binomial distribution as;
where, n = number of trials (samples) taken = 10
r = number of success
p = probability of success which in our question is % of first-round
appeals that were successful, i.e.; 40%
So, here X ~
(a) Probability that none of the appeals will be successful = P(X = 0)
P(X = 0) =
= = 0.00605
(b) Probability that exactly one of the appeals will be successful = P(X = 1)
P(X = 1) =
= = 0.0403
(c) Probability that at least two of the appeals will be successful = P(X>=2)
P(X >= 2) = 1 - P(X = 0) - P(X = 1)
= 1 -
= 1 - 0.00605 - 0.0403 = 0.9536
(d) Probability that more than half of the appeals will be successful = P(X > 0.5)
For this probability we will convert our distribution into normal such that;
X ~ N()
and standard normal z has distribution as;
Z = ~ N(0,1)
P(X > 0.5) = P( >
) = P(Z > -2.26) = P(Z < 2.26) = 0.98809
Answer:
The PV of an ordinary annuity with 10 payments of $2,700 if the appropriate interest rate is 5.5% is $20,352.
Step-by-step explanation:
P = PMT [(1 - (1 / (1 + r))) / r]
= 2,700 [(1 - (1 / (1 + 0.055))) / 0.05]
= 2,700 [(1 - (1 / (1 + 0.055))) / 0.05]
= 2,700 [(1 - (1 / (1.708)) / 0.05]
= 2,700 [(1 - 0.58)) / 0.05]
= 2,700 [(0.41457) / 0.05]
= 2,700(7.53)
=$ 20,352