On December 30, 2019, Whitney sold a piece of property for $85,000. Her basis in the property was $40,000, and she incurred $1,2
1 answer:
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Answer:
The manufacturer should announce a guaranteed mileage of 44528 miles
Explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
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 problem, we have that:
What guaranteed mileage should the manufacturer announce
Only until the 5th percentile will have to be replaced, which is the value of X when Z has a pvalue of 0.05. So it is X when Z = -1.645.
The manufacturer should announce a guaranteed mileage of 44528 miles
Answer:
a) 39.304%
b) 67.91%
c) 14.17%
Explanation:
a. Given"
Offer terms = 1.8/10
Now,
The Effective annual interest rate is given as:
=
on substituting the respective values, we get
=
= 0.39304
or
= 39.304%
similarly,
b. for 2.8/10 net 30
Effective annual interest rate =
= 0.6791
or
= 67.91%
c. for 1.8/10 net 60
Effective annual interest rate =
= 0.1417
or
= 14.17%