A principal of 5500 is invested in an account paying the amount of an annual rate of 5%. Find the amount in the account after 4
1 answer:
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Required probability is 0.8990
Given that,
p = 0.44
1 - p = 0.56
n = 736
0.01830
Converting Normal distribution to standard normal because A normal distribution is determined by two parameters the mean and the variance. A normal distribution with a mean of 0 and a standard deviation of 1 is called a standard normal distribution. Hence it's easy to work with standard normal distribution.
P(0.14<<0.47) = P((0.41-0.44)/0.01830) <
<(0.47-0.44)/0.01830
Using normal algebra we get:
= P(-1.64 < z < 1.64)
= P(z < 1.64) - P(z < -1.64)
= 0.9495 - 0.0505
= 0.8990
Thus, required probability is 0.8990
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