Answer:
15,267
Step-by-step explanation:
To solve this problem, lets use the exponential growth formula which is:
A = total amount
P = original amount
r = growth rate (decimal)
t = years
<u>Before we plug in the values, don't forget to change 3.5% to its decimal form.</u>
3.5% -> -> 0.035
Lets plug in the values:
The population after 7 years will be 15,267.
the slope goes by several names
• average rate of change
• rate of change
• deltaY over deltaX
• Δy over Δx
• rise over run
• gradient
• constant of proportionality
however, is the same cat wearing different costumes.
and to get it, we simply need two points off of the straight line, hmm let's use the ones in the picture below.
Answer:
The sales level that has only a 3% chance of being exceeded next year is $3.67 million.
Step-by-step explanation:
When the distribution is normal, we use the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this question, we have that:
In millions of dollars,
Determine the sales level that has only a 3% chance of being exceeded next year.
This is the 100 - 3 = 97th percentile, which is X when Z has a pvalue of 0.97. So X when Z = 1.88.
The sales level that has only a 3% chance of being exceeded next year is $3.67 million.