The 85th percentile is the cutoff time

such that

In other words, the 85th percentile refers to the time needed to belong to the top 15% of the distribution; more generally, the

percentile is the top

of the distribution.
Anyway, to find this value of

, transform

to a random variable

with the standard normal distribution using

where

is the mean of

and

is the standard deviation of

.

Here

is used to denote the z-score corresponding to the cutoff time

. Referring to a z-score table, you find that this occurs for

. So,
Answer:
A -6 < x ≤ -3
Step-by-step explanation:
21 ≤ - 3(x - 4) < 30
Divide all parts by -3. Remember that flips the inequalities
21/-3 ≥ - 3/-3 (x - 4) > 30/-3
-7 ≥ (x - 4) > -10
Add 4 to all sides
-7+4 ≥ x - 4+4 > -10+4
-3 ≥ x > -6
Rearranging the order
-6 < x ≤ -3
The current yield of the bond is 9.27%.
What is current yield?
Current yield is the bond rate of return computed as the annual coupon divided by the current price of the bond
The annual coupon is the coupon rate of 10% multiplied by the bond's par value of 100
annual coupon=10%*100
annual coupon=10
current bond price=107.87
current yield=annual coupon/current bond price
current yield=10/107.87
current yield=9.27%
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Answer:
y = 4/3
Step-by-step explanation: