Monthly sales of water heaters are normally distributed with a mean of 21 and a standard deviation of 5. What is the probability
1 answer:
Answer:
Option A: 3.59% is the correct answer
Step-by-step explanation:
Z-score is used to calculate the probabilities when mean and standard deviation is given.
Given
Mean = μ = 21
SD = σ = 5
We have to find the probability of selling 12 or less water heaters so our x value is 12
x = 12
The z-score of a value is calculated as:
z-score = (x-μ)/σ
Putting the values
Now z-score table will be used to calculate the probability for z= -1.8
So we will go for the row with -1.8 and column 0, which gives us: 0.03593
As we have to calculate the probability in percentage
Hence,
Option A: 3.59% is the correct answer
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Answer:
A(t) = 200+15t(1+0.02)^{t}
Step-by-step explanation:
Since the interest is calculated on the new balance every year.
Hence the formula used for compound interest is:
A = P(1+^{nt}
where, A =Amount after t years
P =Principal amount
200 is the initial balance and Since, here the $15 is added to the balance each year. Therefore, P = 200+15t
r = rate each year (0.02)
t = time (in years) (t)
n = no. of times the interest is compounded in a year (n=1)
Therefore, the recursive formula is:
A(t) = 200+15t(1+0.02)^{t}