It takes Max 9 minutes to read 10 pages of his book. Which equation represents the
2 answers:
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Answer:
0.216
Step-by-step explanation:
Given that a certain new type of business succeeds 60% of the time.
3 such businesses are tested for success.
Since these three businesses open (where they do not compete with each other, so it is reasonable to believe that their relative successes would be independent). we can say X no of successful businesses is Binomial
with p = 0.6 and n =3
Required probability
=The probability that all 3 businesses succeed is:
=
Answer:
9.694 years
Step-by-step explanation:
Let the investment is $P.
So, we are asked to determine the time it will grow to triple with the compound interest rate of 12%.
Let the time is y years.
So, from the formula of compound interest we can write
⇒
⇒
Now, taking log both sides we get,
y log 1.12 = log 3 {Since, }
⇒ 0.04922y = 0.477712
⇒ y = 9.694 years (Answer)