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3 years ago

8

April and Cody invest $5,000 each at their local bank. April invests at a 4% simple interest rate, and Cody invests at a 4% inte

rest rate, compounded annually. What is the difference in their account balances after three years?

1 answer:

maria [59]3 years ago

3 0

Answer:

$24.32

Step-by-step explanation:

<u>The difference in balances is:</u>

5000*(1 + 0.04)^3 - 5000*(1 + 0.04*3) =
5624.32 - 5600 =
24.32

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IQ scores on the WAIS test approximate a normal curve with a mean of 100 and a standard deviation of 15. What IQ score is identi

riadik2000 [5.3K]

Answer:

IQ scores of at least 130.81 are identified with the upper 2%.

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the z-score of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

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.

Mean of 100 and a standard deviation of 15.

This means that $\mu = 100, \sigma = 15$

What IQ score is identified with the upper 2%?

IQ scores of at least the 100 - 2 = 98th percentile, which is X when Z has a p-value of 0.98, so X when Z = 2.054.

$Z = \frac{X - \mu}{\sigma}$

$2.054 = \frac{X - 100}{15}$

$X - 100 = 15*2.054$

$X = 130.81$

IQ scores of at least 130.81 are identified with the upper 2%.

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