Multiply by z to get
wz = xy
divide by x
y = wz/x
Approximately 95% of bags contain between 65 and 85 potato chips.
<u>Step-by-step explanation</u>:
step 1 :
Given,
The mean, M = 75
Standard deviation, SD = 5
step 2 :
From Normal distribution,
The left side of mean is 32% = M-SD, 16% = M-2SD and 2% = M-3SD
The right side of mean is 32% = M+SD, 16% = M+2SD and 2% = M+3SD
step 3 :
Calculate for left side: M-SD = 75-5 = 70 and M-2SD = 75-10 = 65
Calculate for right side: M+SD = 75+5 = 80 and M+2SD = 75+10 = 85
step 4 :
Calculate the percentage between 65 and 85:
(M-SD) + (M-2SD) + (M+SD) + (M+2SD) = 32% + 16% + 32% + 16%
= 96 % (which is approximately 95 %)
First, let's convert the nominal interest(r) into effective interest rate(i). The formula is
i = (1 + r/m)^m - 1
where m is the number of quarters in a year (m = 4)
i = (1 + 0.024/4)⁴ -1
i = 0.024217
The model would then be:
Future Worth = $3,000(1 + 0.024217)^t, where t is the number of years
