Darian wants to build a regulation size pool table that is 9 feet in length.he plans he ordered are 18 by 36 inches. what is the
1 answer:
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Answer:
a) There is a 45.53% probability that a person who walks by the store will enter the store.
b) There is a 41.07% probability that a person who walks into the store will buy something.
c) There is a 18.70% probability that a person who walks by the store will come in and buy something.
d) There is a 58.93% probability that a person who comes into the store will buy nothing.
Step-by-step explanation:
This a probability problem.
The probability formula is given by:
In which P is the probability, D is the number of desired outcomes and T is the number of total outcomes.
The problem states that:
123 people walked by the store.
56 people came into the store.
23 bought something in the store.
(a) Estimate the probability that a person who walks by the store will enter the store.
123 people walked by the store and 56 entered the store, so .
So
There is a 45.53% probability that a person who walks by the store will enter the store.
(b) Estimate the probability that a person who walks into the store will buy something.
56 people came into the store and 23 bought something, so .
So
There is a 41.07% probability that a person who walks into the store will buy something.
(c) Estimate the probability that a person who walks by the store will come in and buy something.
123 people walked by the store and 23 came in and bought something, so .
So
There is a 18.70% probability that a person who walks by the store will come in and buy something.
(d) Estimate the probability that a person who comes into the store will buy nothing.
Of the 56 people whom came into the store, 23 bought something. This means that 56-23 = 33 of them did not buy anything. So:
There is a 58.93% probability that a person who comes into the store will buy nothing.
Answer:
a) $161.8
b i) Approximately 327.7 hours
ii) The cost of saving is less but the opportunity cost of saving can be higher with regards to technology and regulation
Step-by-step explanation:
The amount Mary would like to save, FV = $10,000
The time Mary over which Mary intends to save the amount, t = 5 years
Therefore, the number of monthly payments, n = 12
a) The amount in interest the bank pays compounding, i = 1.2% per annum
The amount that Mary will deposit each month is given as follows;
The compound interest formula is given as follows;
Where;
PMT = The monthly payment
Therefore, we get;
PMT = 10,000/((1 + 0.012/12)^(60) - 1)/(0.012/12)) ≈ 161.8
The amount she needs to deposit monthly, PMT ≈ $161.8
b i) Given that the minimum wage varies and we have a minimum wage here is officially approximately $79, which is 160 hours a month work
The number of hours work needed = 161.8/79 × 160 ≈ 327.7 hours a month approximately
b ii) Given that the interest rate for saving is lower than the interest rate for borrowing, the amount paid by saving is much lesser than the amount paid back when borrowing, therefore, it is more cost effective to save
However, while saving, changes may take place, such as the use of what is being saved for, therefore, it can be more beneficial to borrow and make use of the items now while they are still available and acceptable, such as the drive towards net zero is making fuel based cars less popular with the drive being towards electric cars.