Suppose your bank honors a check for which you don't have sufficient funds in your checking account. This action means that you'
1 answer:
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Answer:2
Step-by-step explanation:
Answer:
4.39% theoretical probability of this happening
Step-by-step explanation:
For each coin, there are only two possible outcomes. Either it lands on heads, or it lands on tails. The probability of a coin landing on heads is independent of other coins. So we use the binomial probability distribution to solve this question.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
Theoretically, a fair coin
Equally as likely to land on heads or tails, so
10 coins:
This means that
What is the theoretical probability of this happening?
This is P(X = 2).
4.39% theoretical probability of this happening
The total interest earned is 40.75 and the final balance is 65.75
<u>Solution:</u>
Given, principle amount P = 25
Interest rate
Times compounded per year n = 12
Time in years t = 30
On substituting the values we get
Interest I = A - P [since, A = P+I]