Jala put $600 in an interest bearing account with a annual compound interest rate of 5%. Jala determined that after seven years,
2 answers:
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Answer:
And we can use the z score formula given by:
And if we find the parameters we got:
And we can find the z score for the value of 0.4 and we got:
And we can find this probability:
And if we use the normal standard table or excel we got:
Step-by-step explanation:
For this case we have the following info given:
represent the proportion of the company's orders come from first-time customers
represent the sample size
And we want to find the following probability:
And we can use the normal approximation since we have the following two conditions:
1) np = 158*0.26 = 41.08>10
2) n(1-p) = 158*(1-0.26) = 116.92>10
And for this case the distribution for the sample proportion is given by:
And we can use the z score formula given by:
And if we find the parameters we got:
And we can find the z score for the value of 0.4 and we got:
And we can find this probability:
And if we use the normal standard table or excel we got: