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Answer:
And if we solve for a we got
So the value of height that separates the bottom 85% of data from the top 15% is 25.27.
Step-by-step explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Solution to the problem
Let X the random variable that represent the finishing time of a population, and for this case we know the distribution for X is given by:
Where and
Solution to the problem
For this part we want to find a value a, such that we satisfy this condition:
(a)
(b)
Both conditions are equivalent on this case. We can use the z score again in order to find the value a.
As we can see on the figure attached the z value that satisfy the condition with 0.85 of the area on the left and 0.15 of the area on the right it's z=1.04. On this case P(Z<1.04)=0.85 and P(z>1.04)=0.15
If we use condition (b) from previous we have this:
But we know which value of z satisfy the previous equation so then we can do this:
And if we solve for a we got
So the value of height that separates the bottom 85% of data from the top 15% is 25.27.
Answer:
a) $3480
b) $4036.8
Step-by-step explanation:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Suppose that $3000 is placed in an account that pays 16% interest compounded each year.
This means, respectively, that
So
(a) Find the amount in the account at the end of 1 year.
This is A(1).
(b) Find the amount in the account at the end of 2 years.
This is A(2).