Problem is attached, please simplify
1 answer:
You might be interested in
Answer:
The probability that none of the meals will exceed the cost covered by your company is 0.2637.
Step-by-step explanation:
A hyper-geometric distribution is used to define the probability distribution of <em>k</em> success in <em>n</em> samples drawn from a population of size <em>N</em> which include <em>K</em> success. Every draw is either a success of failure.
The random variable <em>X</em> = number of meals that will exceed the cost covered by the company.
The random variable <em>X</em> follows a hyper-geometric distribution.
The information provided is:
N = 15
K = 3
n = 5
k = 0
The probability mass function of a hyper-geometric distribution is:
Compute the probability that none of the meals will exceed the cost covered by your company as follows:
Thus, the probability that none of the meals will exceed the cost covered by your company is 0.2637.
Answer:
the balance after 5 years is: 26540.744
Step-by-step explanation:
Given the information:
- P = initial balance = $ 20,000
- r = interest rate (decimal) = 5% = 0.05
- n = number of times compounded annually = 4
- t = time = 5
We have the compound interest function ta model the situation is:
<=> A =
<=> A = $26540.744
Hence, the balance after 5 years is: $26540.744