Rachel is calculating the interest earned on a deposit of $350 in an account that earns 6% simple interest after 15 years. What
1 answer:
Answer:
$315
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.
<em>I = interest amount</em>
<em>P = principal amount</em>
<em>r = interest rate (decimal form)</em>
<em>t = time</em>
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Now we can plug in the values into the equation:
This means that Rachel earned $315 worth of interest in the 15 year period.
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Answer:
Probability that average height would be shorter than 63 inches = 0.30854 .
Step-by-step explanation:
We are given that the average height of 20-year-old American women is normally distributed with a mean of 64 inches and standard deviation of 4 inches.
Also, a random sample of 4 women from this population is taken and their average height is computed.
Let X bar = Average height
The z score probability distribution for average height is given by;
Z = ~ N(0,1)
where, = population mean = 64 inches
= standard deviation = 4 inches
n = sample of women = 4
So, Probability that average height would be shorter than 63 inches is given by = P(X bar < 63 inches)
P(X bar < 63) = P( <
) = P(Z < -0.5) = 1 - P(Z <= 0.5)
= 1 - 0.69146 = 0.30854
Hence, it is 30.85% likely that average height would be shorter than 63 inches.