if £5000 Is placed into a bank account that pays 2% compound interest per year, how much will be in the account after two years
1 answer:
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Answer:
a). The mean = 1000
The variance = 999,000
The standard deviation = 999.4999
b). 1000 times , loss
Step-by-step explanation:
The mean of geometric distribution is given as ,
And the variance is given by,
Given :
= 0.001
The formulae of mean and variance are :
a). Mean =
=
= 1000
Variance =
=
= 999,000
The standard deviation is determined by the root of the variance.
= = 999.4999
b). We expect to have play lottery 1000 times to win, because the mean in part (a) is 1000.
When we win the profit is 500 - 1 = 499
When we lose, the profit is -1
Expected value of the mean μ is the summation of a product of each of the possibility x with the probability P(x).
= $ 0.50
Since the answer is negative, we are expected to make a loss.
Answer:
Step-by-step explanation: 11/12 - 3/8
1. First, we will find a common denomenator. It needs to be the least common factor, or the answer will not be in its simplist form. Let's take a look at the multiples of 12 and 8.
12: 12, 24, 36, 48, 60, 72, 84, 96
8: 8, 16, 24, 32, 40, 48, 56, 64, 72
2. Next, we will choose the smallest common multiple. That would be 24.
3. Now, we will work this out.
11/12 = 22/24
3/8 = 9/24
4. Subtract.
22/24 - 9/24
= 13/24
=
I found the denomenators by multiplying.
Hope this answer helped!