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What is the interest earned on $3000 at a rate of 0.04 for three years? The formula is interest equals (principal) (rate) (time)
1 answer:
<u>Answer:</u>
The interest after 3 years is $360
<u>Explanation:</u>
Given the principal amount (P) = $3000
Rate of interest (R) = 0.04
Time period (T) is given as 3 years
The Simple Interest is calculated by the formula;
Substituting the values in the above formula,
SI = $360
Therefore, the interest after 3 years is $360
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Using the binomial distribution, it is found that there is a 38% probability that exactly 18 of them say job applicants should follow up within two weeks.
<h3>How to find that a given condition can be modelled by binomial distribution?</h3>Binomial distributions consists of n independent Bernoulli trials.
Bernoulli trials are those trials that end up randomly either on success (with probability p) or on failures( with probability 1- p = q (say))
The probability that out of n trials, there'd be x successes is given by
Binomial probability distribution
The parameters are:
n is the number of trials.
x is the number of successes.
p is the probability of success on a single trial.
In this problem:
62% say job applicants should follow up within two weeks, p = 0.62
25 managers are selected, n = 25
The probability that exactly 18 of them say job applicants should follow up within two weeks is P ( X = 18)
P( X > 18) = 1 - ( X = 18)
= 1 - 0.62
= 0.38
38 % probability that exactly 18 of them say job applicants should follow up within two weeks.
Learn more about binomial distribution here:
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