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The given problem describes a binomial distribution with p = 60% = 0.6. Given that there are 400 trials, i.e. n = 400.
a.) The mean is given by:
The standard deviation is given by:
b.) The mean means that in an experiment of 400 adult smokers, we expect on the average to get about 240 smokers who started smoking before turning 18 years.
c.) It would be unusual to observe <span>340 smokers who started smoking before turning 18 years old in a random sample of 400 adult smokers because 340 is far greater than the mean of the distribution.
340 is greater than 3 standard deviations from the mean of the distribution.</span>
a.) The mean is given by:
The standard deviation is given by:
b.) The mean means that in an experiment of 400 adult smokers, we expect on the average to get about 240 smokers who started smoking before turning 18 years.
c.) It would be unusual to observe <span>340 smokers who started smoking before turning 18 years old in a random sample of 400 adult smokers because 340 is far greater than the mean of the distribution.
340 is greater than 3 standard deviations from the mean of the distribution.</span>
Answer:
$14,644.63
Step-by-step explanation:
To solve this problem we can use the compound interest formula which is shown below:
<em>P = initial balance </em>
<em>r = interest rate </em>
<em>n = number of times compounded annually </em>
<em>t = time </em>
<em />
First change 12% into a decimal:
12% -> -> 0.12
Lets plug in the values:
Tammy will own $14,644.63 after 8 years,