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vagabundo [1.1K]
3 years ago
5

At a local restaurant, the amount of time that customers have to wait for their food is normally distributed with a mean of 18 m

inutes and a standard deviation of 4 minutes. Using the empirical rule, determine the interval of minutes that the middle 99.7% of customers have to wait.
Mathematics
1 answer:
Colt1911 [192]3 years ago
3 0

Answer:

99.7% of customers have to wait between 8 minutes to 30 minutes for their food.

Step-by-step explanation:

We are given the following in the question:

Mean, μ = 18 minutes

Standard Deviation, σ = 4 minutes

We are given that the distribution of amount of time is a bell shaped distribution that is a normal distribution.

Empirical Formula:

  • Almost all the data lies within three standard deviation from the mean for a normally distributed data.
  • About 68% of data lies within one standard deviation from the mean.
  • About 95% of data lies within two standard deviations of the mean.
  • About 99.7% of data lies within three standard deviation of the mean.

Thus, 99.7% of the customers have to wait:

\mu -3\sigma = 18-3(4) = 6\\\mu +3\sigma = 18+3(4) = 30

Thus, 99.7% of customers have to wait between 8 minutes to 30 minutes for their food.

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Answer:

<u>Jill has to pay US$ 413.64 in addition when the interest rate changes from 5% to 10% on the US$ 5,000 balance</u>

Step-by-step explanation:

1. Let's review the information given to us to answer the question correctly:

Minimum monthly payment Jill have to make to pay the balance of US$ 5,000 with an annual interest rate of 10% = US$ 161.34

Minimum monthly payment Jill have to make to pay the balance of US$ 5,000 with an annual interest rate of 5% = US$ 149.85

Time it takes pay totally the US$ 5,000 on both credit cards = 3 years

2. How much more does Jill have to pay when the interest rate changes from 5% to 10% on the $5,000 balance?

To find the difference between the two credit cards monthly payments, we make this calculation:

Difference = Minimum monthly payment Jill have to make to pay the balance of US$ 5,000 with an annual interest rate of 10% - Minimum monthly payment Jill have to make to pay the balance of US$ 5,000 with an annual interest rate of 5%

Difference = 161.34 - 149.85

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Now, for calculating how much more Jill has to pay when the interest rate changes from 5% to 10% on the US$ 5,000 balance, we use this multiplication:

Monthly difference * 3 years = monthly difference * 36 months

= 11.49 * 36 = 413.64

<u>Jill has to pay US$ 413.64 in addition when the interest rate changes from 5% to 10% on the US$ 5,000 balance</u>

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Step-by-step explanation:

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