jill bought a cd for $1000 that earns 4.2% apr and is compounded monthly. The cd matures in 2 years. How much will this cd be wo
2 answers:
You might be interested in
The table of the probability is missing, so i have attached it.
Answer:
μ = 0.919
The interpretation of this is that;on the average, an individual aged 15 years or older has been involved in 0.919 marriages.
Step-by-step explanation:
The expected value which is also called mean value is denoted by the symbol μ. It is defined as the sum of the product of each possibility x with it's probability P(x) as the formula;
μ = Σx.P(x) = (0 × 0.272) + (1 × 0.575) + (2 × 0.121) + (3 × 0.027) + (4 × 0.004) + (5 × 0.001)
μ = 0.919
Thus, the interpretation of this is that;on the average, an individual aged 15 years or older has been involved in 0.919 marriages.
