Answer:
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Step-by-step explanation:
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Answer:
$297.41
Step-by-step explanation:
Given that:
Amount = 9270
Derferred period = 6 months = 0.5 yr
Rate = 17.95% = 0.1795
Amount = 9270(1 + 0.1795)^0.5
Amount = 9270(1.1795)^0.5
Amount = 10067.663
PV = 10067.663
Number of months, n = 48
Monthly amount to be paid :
rp = rate per period = 0.1795/12 = 0.0149583
(rp * PV) / 1 - (1 + rp)^-n
(0.0149583 * 10067.663) / 1 - (1 + 0.0149583)^-48
150.5951234529 / 0.5096723
= 295.47441
Closest option is $297.41
Solution: Yes, the random variable y will have a binomial distribution. Because there are two possible outcomes 1. number of days of rain and 2. number of days of no rain.
The parameters of binomial distribution are
and 
The parameter n is given as the number of day's under consideration.

The parameter p is not given, but it can be estimated by number of days it rained divided by the total number of days under consideration.

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