Answer:
Mean is 12.13 months
Standard deviation is 1.29
Step-by-step explanation:
We need to use z-score here
Let the mean of the distribution be a while the standard deviation be b
Mathematically;
z-score = (x-mean)/SD
We can obtain the probability from the z-score
Now, for the 10th month
The z-score for a probability of P = 0.05(5%)
Can be obtained from the standard normal distribution table and that is;
-1.645
Hence;
-1.645 = (10 - a)/b
-1.645 b = 10 - a
a = 10 + 1.645b ••••••(i)
For the 13 month, we have a proportion of 75%
The z-score corresponding to P(0.75) is = 0.674 from standard normal distribution table
Hence;
0.674 = (13-a)/b
0.674b = 13 - a
a = 13 - 0.674b. •••••(ii)
Now equate both a;
10 + 1.645b = 13 - 0.674b
13-10 = 1.645 b+ 0.674b
3 = 2.319b
b = 3/2.319
b = 1.294
So the mean a will be
10 + 1.645b = 10 + 1.645(1.294) = 10 + 2.13
So mean is 12.13
Answer:
69544.75
Step-by-step explanation:
i got it right on k12 test plaese rate full star
Answer:
$809.32
Step-by-step explanation:
The loan amount is 80% of $150,000, or $120,000. The monthly payment of principal and interest is $586.82.
The total annual expense for taxes and insurance is $1920 +750 = $2670, so the monthly expense is $2670/12 = $222.50.
Then the total of payments for mortgage and escrow will be ...
$586.82 +222.50 = $809.32
__
The monthly P&I payment is given by ...
A = P(i/12)/(1 -(1 +i/12)^(-12t)) . . . . . where i is the annual interest rate, t is the number of years, and P is the amount financed.
A = $120,000(0.042/12)/(1 -(1 +0.042/12)^(-12·30)) ≈ $586.82
__
A spreadsheet or financial calculator can be useful for calculating payments, though the formula isn't difficult to use.
Answer:
C
Step-by-step explanation:
Answer:
Solution to the question is in the photo
