Place the following scenarios in order by the size of their probability, largest to smallest.
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<u>Answer:</u>
Money earned by selling 175 magazine subscriptions will be 3176.25
<u>Solution: </u>
Given that you are planning to take a summer job selling magazine subscription.
For first subscription, magazine company will help you to pay $0.75
For each additional subscription sold, magazine company will pay you $0.20 more than what was paid for previous subscription.
So for second subscription, payments will be = 0.75 + 0.20 = 0.75 + 0.20 x 1
And for third subscription, payments will be = 0.75 + 0.20 = 0.75 + 0.20 x 2
Generalizing for nth subscription we get
Payments for nth subscription = 0.75 + 0.20(n-1)
so here we can see that arithmetic sequence is formed, having first term
and common difference = d = 0.20
We need to determine sum of above arithmetic sequence for n = 175
<u><em>Formula for sum of arithmetic sequence is as follows </em></u>
In our case n = 175, a = 0.75, d = 0.20
Hence money earn by selling 175 magazine subscriptions will be 3176.25