Find the rate of interest per annum at which ₹ 5000 will amount to ₹ 6, 050 in 3 years.
1 answer:
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Answer:
a) 0.0025
b) 0.9975
c) 23.03 minutes
d) 23.03 minutes
Step-by-step explanation:
Let X be the random variable that measures the time waited for a taxi.
If X is exponentially distributed with a mean of 10 minutes,then the probability that you have to wait more than t minutes is
a)
1 hour = 60 minutes, so the probability that you wait longer than one hour is
b)
Due to the “memorylessness” of the exponential distribution, the probability that you have to wait 10 or less minutes after you have already waited for one hour, is the same as the probability that you have to wait 10 or less minutes
c)
We want x so that
P(X>x)=0.1
d)
We want P(X<x)=0.9