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MrRissso [65]
3 years ago
9

Currency exchange rates are constantly fluctuating. How might this affect the currency exchange plans of a traveler who plans to

spend several thousand dollars as they travel over a period of two months?
Mathematics
1 answer:
Bingel [31]3 years ago
5 0

Answer:

Currency exchange rates fluctuations pose budget uncertainty risk for future travellers. A solution to this is Forward Exchange rate markets.

Step-by-step explanation:

Currency Exchange rate is the rate at which two currencies can be exchanged for each other, it is the price of one currency in terms of other.

The currency exchange rates are dynamic, fluctuating based on demand & supply of currencies in foreign exchange markets. This uncertainty in currency rates is not good for foreign travellers, for making later plans. It might disturb their entire allotted budget.

So, they should purchase foreign exchange on Forward Exchange Rate. This rate depicts agreement for exchange of currencies, at pre-determined exchange rate, at a specific date. Buying foreign exchange from Forward markets will protect travellers from Forex volatilities.

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The box-and-whisker plot below shows the numbers of text messages received in one day by students in the seventh and eighth grad
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<h3><u>Answer with explanation:</u></h3>

From the box and whisker plot of seventh grade we have:

The minimum value =6

First quartile or lower quartile i.e. Q_1 = 14

Median or second quartile i.e. Q_2 = 18

Third quartile or upper quartile i.e. Q_3 =22

and maximum value = 26

From the box and whisker plot of eighth grade we have:

The minimum value =22

First quartile or lower quartile i.e. Q_1 = 26

Median or second quartile i.e. Q_2 = 30

Third quartile or upper quartile i.e. Q_3 = 34

and maximum value = 38

a)

The overlap of the two sets of data is as follows.

  • The upper quartile or third quartile of seventh grade is same as the minimum value of the data of eighth grade.
  • And the maximum value of seventh grade is same as the lower quartile of eighth grade.

b)

IQR is calculated as the difference of the Upper quartile and the lower quartile

i.e. Q_3-Q_1

so, IQR of seventh grade is:

22-14=8

IQR of seventh grade=8

IQR of eighth grade is:

34-26=8

Hence, IQR of eighth grade=8

c)

The difference of the median of the two data sets is:

30-18=12

Hence, the difference of median is: 12

d)

As the IQR of both the sets is same i.e. 8.

Hence, the number that must be multiplied by IQR so that it is equal to the difference between the medians of the two sets is:

8\times n=12\\\\n=\dfrac{12}{8}\\\\n=\dfrac{3}{2}\\\\n=1.5

Hence, the number is : 1.5

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Step-by-step explanation:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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