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chubhunter [2.5K]

2 years ago

15

If the average price of a new one-family home is $246,300 with a standard deviation $15,000, find the minimum price of the house

s that a contractor will build to satisfy the middle 80% of the market. Assume that the variable is normally distributed.

1 answer:

elena55 [62]2 years ago

5 0

Answer:

67,000

Step-by-step explanation:

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3 years ago

A building is known to be 192 feet tall. A ball is dropped from the top of the building. In how many seconds will the ball hit t

Archy [21]

Answer:

h = 0 when the ball hits the ground
about 3.464 seconds

Step-by-step explanation:

The formula gives h = 192 when t=0, so we assume that h represents the height above the ground. The ball will have a height of 0 when it hits the ground.

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Using that in the equation, we can solve for t.

0 = 192 -16t^2

0 = 12 -t^2 . . . . . . divide by 16

t^2 = 12 . . . . . . . . add t^2

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3 years ago

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Verify the following:<br> 15x(6+(-2) ) = (15x6) + 15x (-2)

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3 years ago

Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your

Law Incorporation [45]

Answer:

According to the rule of 72, the doubling time for this interest rate is 8 years.

The exact doubling time of this amount is 8.04 years.

Step-by-step explanation:

Sometimes, the compound interest formula is quite complex to be solved, so the result can be estimated by the rule of 72.

By the rule of 72, we have that the doubling time D is given by:

$D = \frac{72}{Interest Rate}$

The interest rate is in %.

In our exercise, the interest rate is 9%. So, by the rule of 72:

$D = \frac{72}{9} = 8$ .

According to the rule of 72, the doubling time for this interest rate is 8 years.

Exact answer:

The exact answer is going to be found using the compound interest formula.

$A = P(1 + \frac{r}{n})^{nt}$

In which A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.

So, for this exercise, we have:

We want to find the doubling time, that is, the time in which the amount is double the initial amount, double the principal.

is double the initial amount, double the principal.

$A = 2P$

$r = 0.09$

The interest is compounded anually, so $n = 1$

$A = P(1 + \frac{r}{n})^{nt}$

$2P = P(1 + \frac{0.09}{1})^{t}$

$2 = (1.09)^{t}$

Now, we apply the following log propriety:

$\log_{a} a^{n} = n$

So:

$\log_{1.09}(1.09)^{t} = \log_{1.09} 2$

$t = 8.04$

The exact doubling time of this amount is 8.04 years.

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3 years ago