Pls help me asapp quick easy 10 points
1 answer:
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Answer:
They should warranty the product for 7 years if they want no more than 6.7% of the waffle irons to fail within that time.
Step-by-step explanation:
Normal Probability Distribution:
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the z-score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.
The average waffle iron lasts for 12 years and one standard deviation is 8 months.
Measuring the time in months, we have that and
How long should they warranty the product for if they want no more than 6.7% of the waffle irons to fail within that time?
This is X when Z has a p-value of 0.067, so X when Z = -1.5. Then
84 months = 7 years.
They should warranty the product for 7 years if they want no more than 6.7% of the waffle irons to fail within that time.
Answer:
As the Principal, increases each year, the value of Interest also rises each year
Step-by-step explanation:
This is a question of compound interest.
The initial Principal amount is 250 dollars.
In Compound Interest, each year the Principal amount gets changed as the interest gets added up into the Principal to form the new Principal.
Also no, money is being deposited or withdrawn so the principal increases via compound interest only.
Formula for compound interest is
A=P
where
A=Amount or the new principal accumulated after n years
P=Initial Principal Amount
r= Rate of Interest compounded annually
n=Number of years
As the Principal, increases each year, the value of Interest also rises each year, see the graph for more information.
