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<h2>Answer:</h2>
- option (c) 2
<u>First step</u> : Multiply
<u>Second step</u> : Add
9 × 2 + 3 + 6 + 9 = 36
The correct answer is 2.
Answer:
The proportion of borrowers who owe more than 54,000 is 0%.
Step-by-step explanation:
Normal Probability Distribution:
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.
Researchers found that the average student loan balance per borrower is $23,300.
This means that
They also reported that about one-quarter of borrowers owe more than $28,000.
This means that the 1 subtracted by the p-value of Z is 0.25 when X = 28000, that is, when X = 28000, Z has a p-value of 0.75, so when X = 28000, Z = 0.675. We use this to find
Estimate the proportion of borrowers who owe more than 54,000.
This is 1 subtracted by the p-value of Z when X = 54000. So
has a p-value of 1
1 - 1 = 0
The proportion of borrowers who owe more than 54,000 is 0%.
The size of the population increases when the growth rate is positive and
decreases for a negative growth rate.
The completed table is presented as follows;
Reasons:
The table is presented as follows;
The population in growth rate is given by the following formula;
P = a·(1 + r)ˣ
Where;
a = The initial population in 2003 = 40.5 million
P = The population in 2029 = 20.9 million
x = The number of years = 2029 - 2003 = 26
Therefore;
20.9 = 40.5 × (1 + r)²⁹
The population growth rate is r ≈ -0.02255 = -2.255 %
The completed table is therefore;
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