If a loan option had been available for your food truck for the $50,000 at 4% interest for 6 years instead of 4 would you have t
1 answer:
Answer:
It depends.
Step-by-step explanation:
For 6 years:
On average, you would have to be profiting:
per year
For 4 years:
On average, you would have to be profiting:
per year.
It would be better to have the longer term option - although you will be paying off more in total, you would be paying off a smaller portion of your earnings.
However, you may want to pay off the loan faster as you would no longer have to worry about it, and it would be cheaper to pay off over the shorter period.
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Answer:
The value that represents the 90th percentile of scores is 678.
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
Find the value that represents the 90th percentile of scores.
This is the value of X when Z has a pvalue of 0.9. So X when Z = 1.28.
The value that represents the 90th percentile of scores is 678.