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UNO [17]
2 years ago
13

Mike invested $7500 in stocks. He is considering transferring his investment to another fund because since making his investment

, the value of his investment has been decreasing by 0.4% per month. If Mike's investment continues to decrease at this rate and he doesn't transfer it to another fund, how long will it take for the stock's value to be less than $7000?
Mathematics
2 answers:
Fed [463]2 years ago
6 0
About 17 months
Actual number 16 2/3
Alona [7]2 years ago
5 0
7000=7500 (1-0.004)^x
Solve for x
X=log(7,000÷7,500)÷log(1−0.004)
X=17.21 months
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In a <em>normal distribution</em> with mean \mu and standard deviation \sigma, the z-score of a measure X is given by:

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

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In this problem:

  • The mean is of 90 grams, hence \mu = 90.
  • The standard deviation is of 1 gram, hence \sigma = 1.

We want to find the probability of an item <u>differing more than 3 grams from the mean</u>, hence:

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

Z = \frac{3}{1}

Z = 3

The probability is P(|Z| > 3), which is 2 multiplied by the p-value of Z = -3.

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2 x 0.0013 = 0.0026

0.0026 x 100% = 0.26%

0.26% of the items will either  weigh less than 87 grams or more than  93 grams.

For more on the normal distribution, you can check brainly.com/question/24663213

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