Roberto bought a $170,000 house, paying 22% down, and financing the rest at 5.4% interest for 30 years. Her monthly payments are
1 answer:
You might be interested in
Answer:
The probability is 0.003
Step-by-step explanation:
We know that the average is:
The standard deviation is:
The Z-score is:
We seek to find
For P(x>800) The Z-score is:
The score of Z = 3 means that 800 is 3 standard deviations from the mean. Then by the rule of the 8 parts of the normal curve, the area that satisfies the conficion of 3 deviations from the mean has percentage of 0.15%
So
For P(x<200) The Z-score is:
The score of Z = -3 means that 200 is 3 standard deviations from the mean. Then by the rule of the 8 parts of the normal curve, the area that satisfies the conficion of 3 deviations from the mean has percentage of 0.15%
So
Therefore
Answer and explanation:
Given : The demand for a product for the last six years has been 15, 15, 17, 18, 20, and 19. The manager wants to predict the demand for this time series using the following simple linear trend equation :
To find : What are the forecast errors for the 5th and 6th years?
Solution :
Data : 15, 15, 17, 18, 20, and 19.
The simple linear trend equation is given as,
For t = 5 years
Observed
Predicted
Forecast error = Observed – Predicted = 20 – 22 = -2
Absolute forecast error = |-2| = 2 .
For t = 6 years
Observed
Predicted
Forecast error = Observed – Predicted = 19 – 24 = -5
Absolute forecast error = |-5| = 5.