The answer is $213 because you subtract the price sold by the price he bought them for and then you add them together (see work)
Find how many years it would take for an investment of $3700 to grow to $6000 at an annual interest rate of 6.2% compounded semi
1 answer:
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With , we have
Since , we can further write this as
Answer:
a.) .95
b.) The expected number of baskets is 10.50.
c.) 1.7748
Step-by-step explanation:
a.) This is a binomial distribution as there are two possibilities: makes a free throw or doesn't. This means that you can use the binomial function on a calculator to figure out the answer. Use the binomial CDF function on a calculator and the number of trials=15, probability of success=.7, lower bound=0, upper bound=7. Once you have evaluated the answer, .0500, it will need to be subtracted from1, as you want everything not included in this section. The answer to part a is thus 1-.0500=.95.
b.) The expected value is calculated by taking the total number of shots and multiplying it by the probability of making the shot: 15×.7=10.5 shots.
c.) The standard deviation of a binomial distribution can be calculated by the formula . Plugging in the numbers you get
=1.7748.