You decide to deposit $5,000 in a savings account that earns 3% interest. How much money will you have in 10 years
1 answer:
You might be interested in
Answer:
a) (1215, 1297)
b) (1174, 1338)
c) (1133, 1379)
Step-by-step explanation:
We are given the following information in the question:
Mean, μ = 1256
Standard Deviation, σ = 41
Empirical Rule:
- Also known as 68-95-99.7 rule.
- It states that almost all the data lies within three standard deviation for a normal data.
- About 68% of data lies within 1 standard deviation of mean.
- About 95% of data lies within two standard deviation of mean.
- About 99.7% of data lies within 3 standard deviation of mean.
a) range of years centered about the mean in which about 68% of the data lies
68% of data will be found between 1215 years and 1297 years.
b) range of years centered about the mean in which about 95% of the data lies
95% of data will be found between 1174 years and 1338 years.
c) range of years centered about the mean in which about all of the data lies
All of data will be found between 1133 years and 1379 years.