<u>Answer:</u> $42546.9 will be the earning in 4 years.
<u>Step-by-step explanation:</u>
The equation for compound interest follows:
where,
A = total amount
P = Principle amount
r = rate of interest
n = number of years
We are given:
Earnings earned per month = $3250
Earnings earned per year = ($3250 × 12) = $39000
The values become:
Putting values in above equation, we get:
Hence, $42546.9 will be the earning in 4 years.
Answer:
0.3594 = 35.94% probability that a truck will weigh less than 14.3 tons
Step-by-step explanation:
To solve this question, we need to understand the normal probability distribution.
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 is 15.8 tons, with a standard deviation of the sample of 4.2 tons.
This means that
What is probability that a truck will weigh less than 14.3 tons?
This is the pvalue of Z when X = 14.3. So
has a pvalue of 0.3594
0.3594 = 35.94% probability that a truck will weigh less than 14.3 tons