The random variable x has a normal distribution with mean 10 and standard deviation 6
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Depreciation involves the reduction in the value of a quantity
The rate of depreciation is about 13%
<h3>How to determine the equation</h3>From the question, we have the following ordered pairs
(x,y) = {(0,9000) and (5,4500)}
The depreciation equation is represented as:
At (0,9000), we have:
At (5,4500), we have:
This gives
Solve for b^5
Take the 5th roots
So, we have:
The rate (r) is then calculated as:
This gives
Express as percentage
Hence, the rate of depreciation is about 13%
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