Answer:
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
First, change 6% into a decimal:
6% -> -> 0.06
Since the interest is compounded semi-annually, we will use 2 for n. Lets plug in the values now and your equation will be:
Answer:
The probability that their mean life will be longer than 13 years = .9943 or 99.43%
Step-by-step explanation:
Given -
Mean = 15 years
Standard deviation = 3.7 years
Sample size ( n ) =22
Let be the mean life of manufacturing items
the probability that their mean life will be longer than 13 years =
=
=
= Using Z table
= 1 - .0057
= .9943
