What is the interest rate $14,095 at 3.8% for 5 1/2 years
1 answer:
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Answer:
a) Mean = 3670
b) Median = 3830
c) Mode = 4090
Step-by-step explanation:
a) By mean, we imply the average of the sample collected. This is given by the formula:
Mean () =
, where<em> </em><em>n</em> is the sample size and<em> x </em>is the samples collected.
==> = (2940+3100+3200+3780+3830+3960+4040+4090+4090
)/9
==> = 33030/9 = 3670
b) By median, we imply middle value. Since the data size is small, we can easily sort the data in ascending or descending order. Then, we pick the middle value.
Sorted value => 2940 3100 3200 3780 3830 3960 4040 4090 4090
By formula, median = ((n+1)/2)th = 5th position value.
Therefore, the median = 3830
c) By mode, we imply the most occurrence value in the dataset. From the sorting: 2940 3100 3200 3780 3830 3960 4040 4090 4090 ,
The last two values occur most. Therefore, the mode is:
===> 4090
Answer:
0.9192 = 91.92% probability that the weight will be less than 4473 grams.
Step-by-step explanation:
Normal Probability Distribution:
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the z-score 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 p-value, we get the probability that the value of the measure is greater than X.
Mean weight of 3950 grams and a standard deviation of 374 grams.
This means that
Find the probability that the weight will be less than 4473 grams.
This is the pvalue of Z when X = 4473. So
has a pvalue of 0.9192
0.9192 = 91.92% probability that the weight will be less than 4473 grams.