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3 years ago

NEED HELP ASAP PLEASE

Mathematics

1 answer:

olga nikolaevna [1]3 years ago

7 0

Answers:

interest = $75
balance at maturity = $3075

=============================================================

Explanation:

The simple interest formula is

i = p*r*t

where in this case,

p = 3000 = principal (amount deposited)
r = 0.10 = annual interest rate in decimal form
t = 3/12 = 0.25 = number of years

So,

i = p*r*t

i = 3000*0.10*0.25

i = 75 is the amount of interest earned

This adds onto the initial deposit to get the final balance when the CD matures (ie when you're able to withdraw the money without penalties)

The balance at maturity is p+i = 3000+75 = 3075 dollars

---------------

In short, you deposit $3000 into the CD and have to wait 3 months for the amount to update to $3075.

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a) $P(X=0)=(4C0)(0.75)^0 (1-0.75)^{4-0}=0.0039$

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Step-by-step explanation:

Previous concepts

The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".

Let X the random variable of interest, on this case we now that:

$X \sim Binom(n=4, p=1-0.25=0.75)$

The probability mass function for the Binomial distribution is given as:

$P(X)=(nCx)(p)^x (1-p)^{n-x}$

Where (nCx) means combinatory and it's given by this formula:

$nCx=\frac{n!}{(n-x)! x!}$

Part a

$P(X=0)=(4C0)(0.75)^0 (1-0.75)^{4-0}=0.0039$

$P(X=1)=(4C1)(0.75)^1 (1-0.75)^{4-1}=0.0469$

$P(X=2)=(4C2)(0.75)^2 (1-0.75)^{4-2}=0.211$

$P(X=3)=(4C3)(0.75)^2 (1-0.75)^{4-3}=0.422$

$P(X=4)=(4C4)(0.75)^2 (1-0.75)^{4-4}=0.316$

Part b

The expected value is givn by:

$E(X) = np = 4*0.75=3$

Part c

For the standard deviation we have this:

$Sd(X) =\sqrt{np(1-p)}=\sqrt{4*0.75*(1-0.75)}=0.866$

Part d

For this case the sample size needs to be higher or equal to 9. Since we need a value such that:

$P(X \geq 3) \geq 0.98$

And the dsitribution that satisfy this is $X\sim Binom(n=9,p=0.75$

We can verify this using the following code:

"=1-BINOM.DIST(3,9,0.75,TRUE)" and we got 0.99 and the condition is satisfied.

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