The Patels took out a 15-year mortgage. How many monthly payments will they have to make on this mortgage?
1 answer:
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Answer:
0.1507 or 15.07%.
Step-by-step explanation:
We have been given that the manufacturing of a ball bearing is normally distributed with a mean diameter of 22 millimeters and a standard deviation of .016 millimeters. To be acceptable the diameter needs to be between 21.97 and 22.03 millimeters.
First of all, we will find z-scores for data points using z-score formula.
, where,
z = z-score,
x = Sample score,
= Mean,
= Standard deviation.
Let us find z-score of data point 22.03.
Using probability formula , we will get:
Therefore, the probability that a randomly selected ball bearing will be acceptable is 0.1507 or 15.07%.