Find how long it takes for $500 to double if it is invested at 6% interest compounded monthly
1 answer:
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Answer:
Keenan's z-score was of 0.61.
Rachel's z-score was of 0.81.
Step-by-step explanation:
Z-score:
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.
Keenan scored 80 points on an exam that had a mean score of 77 points and a standard deviation of 4.9 points.
This means that
So
Keenan's z-score was of 0.61.
Rachel scored 78 points on an exam that had a mean score of 75 points and a standard deviation of 3.7 points.
This means that . So
Rachel's z-score was of 0.81.
Step-by-step explanation:
Given that,
A motor boat travels 60 miles down a river in 3 hours but takes 5 hours to return upstream,
We know that,
Speed = distance/time
The rate while moving downstream
The rate while moving upstream
The rate of the boat in still water is the average of these:
The rate of the current is the difference between the boat speed and actual speed = 16 mph - 12 mph = 4 mph
Hence, this is the required solution.