Find the amount of simple interest earned for depositing the given principle in an account if $2200 is invested at 5.5 %
2 answers:
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Answer:
a) A. The population must be normally distributed
b) P(X < 68.2) = 0.7967
c) P(X ≥ 65.6) = 0.3745
Step-by-step explanation:
a) The population is normally distributed having a mean () = 64 and a standard deviation (
) =
b) P(X < 68.2)
First me need to calculate the z score (z). This is given by the equation:
but μ=64 and σ=19 and n=14,
and
Therefore:
From z table, P(X < 68.2) = P(z < 0.83) = 0.7967
P(X < 68.2) = 0.7967
c) P(X ≥ 65.6)
First me need to calculate the z score (z). This is given by the equation:
Therefore:
From z table, P(X ≥ 65.6) = P(z ≥ 0.32) = 1 - P(z < 0.32) = 1 - 0.6255 = 0.3745
P(X ≥ 65.6) = 0.3745
P(X < 68.2) = 0.7967