Business plans are aimed MAINLY at _______

According to a 2018 survey by Bankrate, 20% of adults in the United States save nothing for retirement (CNBC website). Suppose t

nalin [4]

Answer:

0.5981 = 59.81% probability that three or less of the selected adults have saved nothing for retirement

Step-by-step explanation:

For each adult, there are only two possible outcomes. Either they save nothing for retirement, or they save something. The probability of an adult saving nothing for retirement is independent of any other adult. This means that the binomial probability distribution is used to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

In which $C_{n,x}$ is the number of different combinations of x objects from a set of n elements, given by the following formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of X happening.

20% of adults in the United States save nothing for retirement (CNBC website).

This means that $p = 0.2$

Suppose that sixteen adults in the United States are selected randomly.

This means that $n = 16$

What is the probability that three or less of the selected adults have saved nothing for retirement?

This is:

$P(X \leq 3) = P(X = 0) + P(X = 1) + P(X = 2) + P(X = 3)$

In which

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 0) = C_{16,0}.(0.2)^{0}.(0.8)^{16} = 0.0281$

$P(X = 1) = C_{16,1}.(0.2)^{1}.(0.8)^{15} = 0.1126$

$P(X = 2) = C_{16,2}.(0.2)^{2}.(0.8)^{14} = 0.2111$

$P(X = 3) = C_{16,3}.(0.2)^{3}.(0.8)^{13} = 0.2463$

$P(X \leq 3) = P(X = 0) + P(X = 1) + P(X = 2) + P(X = 3) = 0.0281 + 0.1126 + 0.2111 + 0.2463 = 0.5981$

0.5981 = 59.81% probability that three or less of the selected adults have saved nothing for retirement

4 0

3 years ago

A cube with an edge of length s has a volume of 27 units.<br> What is the length of s?

matrenka [14]

Answer:

s = 3

Step-by-step explanation:

The volume formula for a cube is V = s^3, where “s” is the edge length. Since we know the volume and need to find “s,” we just do the inverse operation for an exponent, which is a radical. The cubed root of 27 is 3, so there’s your answer! Hope this is helpful & accurate. Best wishes.

5 0

3 years ago

How do I solve this equation 144=-12(x+5)

Papessa [141]

First you distribute the -12 to the (x+5) getting 144=-12x-60.

Next you add 60 to each side getting 204=-12x

Then you divide each side by -12 getting -17=x, which is the answer.<span />

6 0

3 years ago

What is the area of this triangle

Drupady [299]

66 will be the area because triangle DEF is increased by 8 feet so that means the height will be 11. So 11 times 12 divided by 2 is 66

6 0

3 years ago

A rectangular prism is 3 units high 2 units wide and 5 units long what is its surface area in square units

Luba_88 [7]

Answer:

62 square units

Step-by-step explanation:

The area of a rectangular prism is the sum of the areas of its six faces. Opposite faces have the same area, so it is the sum of 3 pairs of faces. The area of one face of each pair is the product of the dimensions of that face. Those three areas are ...

• L·W

• W·H

• H·L

so the total surface area is ...

A = 2(LW +WH +HL)

For hand calculation, this can be simplified a bit to ...

A = 2(LW +H(L+W)) . . . . . requires one less multiplication

For your prism, the area is ...

A = 2(5·2 + 3(5+2)) = 2(10 +21) = 62 . . . square units

6 0

3 years ago

Business plans are aimed MAINLY at ________.