A monthly contribution of $200 is deposited into an interest-bearing account.If the account has a 4.8% interest rate and compoun
1 answer:
You might be interested in
Answer:
a)
b)
c)
d)
Step-by-step explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Part a
Let X the random variable that represent the heights of a population, and for this case we know the distribution for X is given by:
Where and
We select a random sample of n=36. And from the central limit theorem we know that the distribution for the sample is given by:
And the best way to solve this problem is using the normal standard distribution and the z score given by:
If we apply this formula to our probability we got this:
Part b
For this case we want this probability:
And we can find this probability on this way:
And in order to find these probabilities we can find tables for the normal standard distribution, excel or a calculator.
Part c
If we apply this formula to our probability we got this:
Part d
For this case we want this probability:
And we can find this probability on this way:
And in order to find these probabilities we can find tables for the normal standard distribution, excel or a calculator.