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NeX [460]
2 years ago
5

You are given two offers for a monthly wage. Option A is to be paid one cent on the first day of the month, with your wages doub

ling each day (2 cents on day 2, 4 cents on day 3, 8 cents on day 4, etc.) for the rest of this 30 day month. Option B is to be paid $1 on the first day of the month, with your wages increasing $100 each day ($101 on day 2, $201 on day 3, $301 on day 4, etc.). Which option will give you more money by the end of the month? Make sure to support your answer. Also remember to find the equations for the exponential function and the linear function. Substitute 30 in for x and simplify.
Mathematics
1 answer:
ira [324]2 years ago
5 0

Answer:

Step-by-step explanation:

Option B

Because if you start with one dollar and by day 3 you get 301 dollars and option A only gives you 8 cents on day 3 you get more money by the end of the month if you choose option B.

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Complete question :

It is estimated 28% of all adults in United States invest in stocks and that 85% of U.S. adults have investments in fixed income instruments (savings accounts, bonds, etc.). It is also estimated that 26% of U.S. adults have investments in both stocks and fixed income instruments. (a) What is the probability that a randomly chosen stock investor also invests in fixed income instruments? Round your answer to decimal places. (b) What is the probability that a randomly chosen U.S. adult invests in stocks, given that s/he invests in fixed income instruments?

Answer:

0.929 ; 0.306

Step-by-step explanation:

Using the information:

P(stock) = P(s) = 28% = 0.28

P(fixed income) = P(f) = 0.85

P(stock and fixed income) = p(SnF) = 26%

a) What is the probability that a randomly chosen stock investor also invests in fixed income instruments? Round your answer to decimal places.

P(F|S) = p(FnS) / p(s)

= 0.26 / 0.28

= 0.9285

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(b) What is the probability that a randomly chosen U.S. adult invests in stocks, given that s/he invests in fixed income instruments?

P(s|f) = p(SnF) / p(f)

P(S|F) = 0.26 / 0.85 = 0.3058823

P(S¦F) = 0.306 (to 3 decimal places)

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To find the answer, multiply 8 by 4 to get 32. Now divide 32 by 4 and you should get the answer 8. This will make sure that your answer is correct. And so 32 divided by 4 equals 8.

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