Answer:
Step-by-step explanation:
we know that
The formula to calculate the depreciated value is equal to
where
V is the depreciated value
P is the original value
r is the rate of depreciation in decimal
x is Number of Time Periods
in this problem we have
substitute in the formula
Using the normal distribution and the central limit theorem, it is found that there is a 0.0284 = 2.84% probability of finding a sample mean mass of 695g or below.
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Normal Probability Distribution
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the z-score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.
Central Limit Theorem
The Central Limit Theorem establishes that, for a normally distributed random variable X, with mean and standard deviation
, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean
and standard deviation
.
For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.
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The probability of finding a sample mean mass of 695g or below is the p-value of Z when X = 695, thus:
By the Central Limit Theorem
has a p-value of 0.0284.
0.0284 = 2.84% probability of finding a sample mean mass of 695g or below.
A similar problem is given at brainly.com/question/22934264