The local Toyota dealership pays an average of $9,260 with a standard deviation of $1099 for used car trade-ins. They sell new c
ars at an average of $28,451 with a standard deviation of
$3392. Assume independence of new car and trade-ins. What are the mean and standard
deviation of the revenue this dealership should expect when a person trades in a car and purchases a new one?
$3392. Assume independence of new car and trade-ins. What are the mean and standard
deviation of the revenue this dealership should expect when a person trades in a car and purchases a new one?
1 answer:
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Answer:
Option B. $5737.62
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute