This is binomial
distribution problem. <span>
We are given that:</span>
n = sample size = 500
p = proportion which
burns wood = 0.27,
q = proportion which
does not burn wood = 1-p = 0.73
<span>
A. Mean is calculated as:</span>
Mean = n*p
Mean = 500 * 0.27
Mean = 135
<span>
B. Variance is calculated as:</span>
Variance = n*p*q
Variance = 500*0.27*0.73
Variance = 98.55
<span>
C. Standard deviation is calculated as:</span>
Standard deviation = sqrt(variance)
Standard deviation =
sqrt(98.55)
<span>Standard deviation =
9.93</span>
Based on the discount offered by Next furniture, the discounted price of a sofa would be $669.33
<h3>What is the discounted price of the sofa?</h3>
This can be found as:
= Original price x (1 - discount rate)
Solving gives:
= 999 x (1 - 33%)
= 999 x 0.67
= $669.33
Find out more on discount rates at brainly.com/question/1385340.
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Answer:
GDP is likely to remain same as a result of this conversion.
Explanation:
GDP is the total value of goods & services, produced by an economy, during a given year.
It can be calculated by 2 methods
- By Expenditure method : GDP = Private Final Capital Expenditure + Govt. Final Consumption Expenditure + Gross Domestic Capital Formation + Net Exports
- By Income method : NDP = Compensation of Employees + Operating Surplus (Rent + Profit + Income) + Mixed Income
Given case - Converting a rented apartment into a resident owned condominium , with value of housing services = rent formerly paid :
This brings no change in the GDP, as : The apartment 'rent' previously paid was included in 'operating surplus' of national income, by Income method. And, the equal condominium value is now included in investment addition i.e 'Gross domestic capital formation' , by Income method.
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