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The empirical rule you're referring to is the 68-95-99.7 rule, which asserts that for a normal (bell-shaped) distribution, approximately 68% of the distribution lies within 1 standard deviation of the mean; 95% lies within 2 standard deviations of the mean; and 99.7% lies within 3 standard deviations of the mean.
Let be the random variable denoting vehicle speeds along this highway. We want to find
. To use the rule, we need to rephrase this probability in terms of the mean and standard deviation.
Notice that , and
. In other words, 61 and 79 both lie exactly 3 standard deviations away from the mean, so
.
Answer:
5 years
Step-by-step explanation:
In the question we are given;
- Amount invested or principal amount as $5048
- Rate of interest as 4% compounded 12 times per year
- Amount accrued as $6,163.59
We are required to determine the time taken for the money invested to accrue to the given amount;
Using compound interest formula;
where n is the interest period and r is the rate of interest, in this case, 4/12%(0.33%)
Therefore;
introducing logarithms on both sides;
But, 1 year = 12 interest periods
Therefore;
Number of years = 60.61 ÷ 12
= 5.0508
= 5 years
Therefore, it will take 5 years for the invested amount to accrue to $6163.59