$1200 is invested at 3% compounded quarterly. What is the total amount, to the nearest dollar, after 5 years?
1 answer:
You might be interested in
Answer:
Mean for a binomial distribution = 374
Standard deviation for a binomial distribution = 12.97
Step-by-step explanation:
We are given a binomial distribution with 680 trials and a probability of success of 0.55.
The above situation can be represented through Binomial distribution;
where, n = number of trials (samples) taken = 680 trials
r = number of success
p = probability of success which in our question is 0.55
So, it means X <em>~ </em>
<em><u>Now, we have to find the mean and standard deviation of the given binomial distribution.</u></em>
- Mean of Binomial Distribution is given by;
E(X) = n p
So, E(X) = 680 0.55 = 374
- Standard deviation of Binomial Distribution is given by;
S.D.(X) =
=
= = 12.97
Therefore, Mean and standard deviation for binomial distribution is 374 and 12.97 respectively.