Dwight deposits $150 into his new savings account. The account earns 5% interest compounded annually.
1 answer:
Answer:
Step-by-step explanation:
we know that
The compound interest formula for this problem is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods in years
in this problem we have
substitute in the formula above
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Answer:
P(X < 3) = 0.7443
Step-by-step explanation:
We are given that the random variable X has a binomial distribution with the given probability of obtaining a success. Also, given n = 6, p = 0.3.
The above situation can be represented through Binomial distribution;
where, n = number of trials (samples) taken = 6
r = number of success = less than 3
p = probability of success which in our question is 0.3.
LET X = a random variable
So, it means X ~
Now, Probability that X is less than 3 = P(X < 3)
P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)
=
=
= 0.11765 + 0.30253 + 0.32414 = 0.7443
Therefore, P(X < 3) = 0.7443.