Sarah Wiggum would like to make a single investment and have $1.7 million at the time of her retirement in 34 years. She has
1 answer:
Answer:
Sarah has to invest $502,958.58 today.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
In this question:
She has to invest P today.
So
Sarah has to invest $502,958.58 today.
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Answer:
The probability that 75% or more of the women in the sample have been on a diet is 0.037.
Step-by-step explanation:
Let <em>X</em> = number of college women on a diet.
The probability of a woman being on diet is, P (X) = <em>p</em> = 0.70.
The sample of women selected is, <em>n</em> = 267.
The random variable thus follows a Binomial distribution with parameters <em>n</em> = 267 and <em>p</em> = 0.70.
As the sample size is large (n > 30), according to the Central limit theorem the sampling distribution of sample proportions () follows a Normal distribution.
The mean of this distribution is:
The standard deviation of this distribution is:
Compute the probability that 75% or more of the women in the sample have been on a diet as follows:
**Use the <em>z</em>-table for the probability.
Thus, the probability that 75% or more of the women in the sample have been on a diet is 0.037.
