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kirill115 [55]
2 years ago
5

G A professor has two light bulbs in his garage. When both are burned out, they are replaced, and the next day starts with two w

orking light bulbs. Suppose that when both are working, one of the two will go out with probability .02 (each has probability .01 and we ignore the possibility of losing two on the same day). However, when only one is there, it will burn out with probability .05.
(a) What is the long-run fraction of time that there is exactly one bulb working
Mathematics
1 answer:
Aneli [31]2 years ago
7 0

Answer:

2/7 or 0.2857

Step-by-step explanation:

The expected time before the first bulb burns out (two bulbs working) is given by the inverse of the probability that a bulb will go out each day:

E_1 = \frac{1}{0.02}=50\ days

The expected time before the second bulb burns out (one bulb working), after the first bulb goes out, is given by the inverse of the probability that the second bulb will go out each day:

E_2 = \frac{1}{0.05}=20\ days

Therefore, the long-run fraction of time that there is exactly one bulb working is:

t=\frac{E_2}{E_1+E_2}=\frac{20}{20+50}\\t=\frac{2}{7}=0.2857

There is exactly one bulb working 2/7 or 0.2857 of the time.

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A bank account earned 3.5% continuously compounded annual interest. After the initial deposit, no deposits or withdrawals were m
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This question is incomplete. Below is the complete question:

A bank account earned 3.5% continuously compounded annual interest. After the initial deposit, no deposits or withdrawals were made. At the end of an 8 year period, the balance in the account was $13231.30. what is the amount of the initial deposit?

Answer: The initial deposit is $10,001

Step-by-step explanation:

To solve this we need to utilize the continuous compounding interest formula:-

Fv = Pv × e^(i × t)

Where, Fv = the future value

Pv = present value

i = the interest rate

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e = a mathematical constant that is usually approximated by 2.7183

In this case, the Fv = 13,231.30

i = 3.5% or 0.035

t = 8 years

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Pv = ? (The unknown variable).

13,231.30 = Pv × [2.7183^(0.035 × 8)]

13,231.30 = Pv × [2.7183^(0.28)]

13,231.30 = Pv × 1.323

Pv = 13,231.30/1.323

Pv = $10000.98

= $10,001

Therefore the initial deposit is $10,001

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