$800 at 3.8% interest for 6 months What is the interest? What is the new balance?
2 answers:
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Answer:
B) 0.287
Step-by-step explanation:
For each Coffeeton resident, there are only two possible outcomes. Either they recognize the brand name, or they do not. The probability of a resident recognizing the brand name is independent of other residents. So we use the binomial probability distribution to solve this question.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
53% recognition rate in the town of Coffeeton.
This means that
Find the probability that exactly 4 of the 7 Coffeeton residents recognize the brand name.
This is P(X = 4) when n = 7. So
So the anwer is:
B) 0.287