Marsha deposited 7,500 into a savings account 2 years ago. The simple interest rate is 4%. How much money did Marsha earn in int
1 answer:
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<span><u><em>The correct answer is:</em></u>
16%.
<u><em>Explanation</em></u><span><u><em>: </em></u>
We use a z-score to answer this question.
<u>The formula for a z-score is:</u>
z=</span></span>
<span><span>,
where mue is the mean and sigma is the standard deviation.
<u>Using our information, we have:</u>
z=</span></span>
<span><span>.
Using a z-table, we see that the area to the left of, or less than, this score is 0.8413. We want to know how many students scored more than this, so we subtract from 1:
1-0.8413=0.1587, which rounds to 16%.</span></span>
16%.
<u><em>Explanation</em></u><span><u><em>: </em></u>
We use a z-score to answer this question.
<u>The formula for a z-score is:</u>
z=</span></span>
where mue is the mean and sigma is the standard deviation.
<u>Using our information, we have:</u>
z=</span></span>
Using a z-table, we see that the area to the left of, or less than, this score is 0.8413. We want to know how many students scored more than this, so we subtract from 1:
1-0.8413=0.1587, which rounds to 16%.</span></span>