According to the rule of 72, if the GDP of the Apex Federation is growing at 1.3% per year, its economy will double in approxima
2 answers:
Answer:
Approximately 55 years.
Step-by-step explanation:
Since, according to the rule of 72,
An amount is doubled when the product of time ( In years ) and the annual interest rate ( in percentage ) is 72.
Here, the annual rate of interest = 1.3 %,
Let after t years the economy will be doubled,
Thus, by the above rule,
Thus, after 55 years ( approx ) the economy will be doubled.
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Answer:
(a)
(b) 0.7910
(c) 0.0401
(d) 0.6464
Step-by-step explanation:
Let <em>X</em> = amount of time that people spend at Grover Hot Springs.
The random variable <em>X</em> is normally distributed with a mean of 73 minutes and a standard deviation of 16 minutes.
(a)
The distribution of the random variable <em>X</em> is:
(b)
Compute the probability that a randomly selected person at the hot springs stays longer than 60 minutes as follows:
*Use a <em>z</em>-table for the probability.
Thus, the probability that a randomly selected person at the hot springs stays longer than an hour is 0.7910.
(c)
Compute the probability that a randomly selected person at the hot springs stays less than 45 minutes as follows:
*Use a <em>z</em>-table for the probability.
Thus, the probability that a randomly selected person at the hot springs stays less than 45 minutes is 0.0401.
(d)
Compute the probability that a randomly person spends between 60 and 90 minutes at the hot springs as follows:
*Use a <em>z</em>-table for the probability.
Thus, the probability that a randomly person spends between 60 and 90 minutes at the hot springs is 0.6464