marc makes $35 pr hour. he works 40 hours per week and gets commison of 15%on his total sales. how much should marc sell to make
1 answer:
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Using the normal distribution, we have that:
- The distribution of X is
.
- The distribution of
is
.
- 0.0597 = 5.97% probability that a single movie production cost is between 55 and 58 million dollars.
- 0.2233 = 22.33% probability that the average production cost of 17 movies is between 55 and 58 million dollars. Since the sample size is less than 30, assumption of normality is necessary.
The z-score of a measure X of a normally distributed variable with mean and standard deviation
is given by:
- The z-score measures how many standard deviations the measure is above or below the mean.
- Looking at the z-score table, the p-value associated with this z-score is found, which is the percentile of X.
- By the Central Limit Theorem, the sampling distribution of sample means of size n has standard deviation
.
In this problem, the parameters are given as follows:
Hence:
- The distribution of X is
- The distribution of
The probabilities are the <u>p-value of Z when X = 58 subtracted by the p-value of Z when X = 55</u>, hence, for a single movie:
X = 58:
Z = 0.05.
Z = 0.05 has a p-value of 0.5199.
X = 55:
Z = -0.1.
Z = -0.1 has a p-value of 0.4602.
0.5199 - 0.4602 = 0.0597 = 5.97% probability that a single movie production cost is between 55 and 58 million dollars.
For the sample of 17 movies, we have that:
X = 58:
Z = 0.19.
Z = 0.19 has a p-value of 0.5753.
X = 55:
Z = -0.38.
Z = -0.38 has a p-value of 0.3520.
0.5753 - 0.3520 = 0.2233 = 22.33% probability that the average production cost of 17 movies is between 55 and 58 million dollars. Since the sample size is less than 30, assumption of normality is necessary.
More can be learned about the normal distribution at brainly.com/question/4079902
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Premium rates are usually for premium per fixed face value. Jade's annual premium for a 10 year policy is given by Option b: $1,202
<h3>How to calculate the total annual premium for $x ?</h3>If its given that the annual premium is $p per $y face value, then we can calculate the annual premium for $1 face value and then use it to calculate annual premium for $x.
Using proportions, we get:
For given case, from the tables, we see that for age 34, and 10 year life insurance for female gender , there is annual premium of 6.01 per $1000 face value.
Thus, we have p = 6.01, y = 1000
Since Jade wants to buy Life insurance for $200,000, thus, x = $200,000
Putting it in the above derived formula, we get:
Thus, Jade's annual premium for a 10 year policy is given by Option b: $1,202
Learn more about calculating annual premium cost here:
Answer:
Total interest will $1800 after 5 years.
Step-by-step explanation:
It is given that the principle amount is $6000.
Rate of interest rate is 6% per annum.
Total interest is $1800.
Formula for simple interest is
Where, P is principle, r is rate of interest in percent and t is time in years.
Substitute P=6000, r=6 and I=1800 in the above formula.
Divide both sides by 360.
Therefore the total interest will $1800 after 5 years.