You deposit $300 into a savings account that pays 4% interest compounded annually. How much interest will you earn after 5 years
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Answer:
The bulbs should be replaced each 1436.9 hours.
Step-by-step explanation:
Problems of normally distributed samples are solved using 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 problem, we have that:
How often should the bulbs be replaced so that no more than 1% burn out between replacement periods?
This is the first percentile of hours. So it is X when Z has a pvalue of 0.01.
So it is X when Z = -2.33.
The bulbs should be replaced each 1436.9 hours.