Eden opened a credit card at a department store with an APR of 19.07% compounded monthly. What is the APY on this credit card?
1 answer:
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Answer:
61% of the time a person will wait at least 1.872 seconds before the wave crashes in.
Step-by-step explanation:
An uniform probability is a case of probability in which each outcome is equally as likely.
For this situation, we have a lower limit of the distribution that we call a and an upper limit that we call b.
The probability that we find a value X lower than x is given by the following formula.
Uniform distribution from 0 to 4.8 seconds.
This means that
61% of the time a person will wait at least how long before the wave crashes in?
This is the 100 - 61 = 39% percentile, which is x for which . So
61% of the time a person will wait at least 1.872 seconds before the wave crashes in.