Find the outlier in the data: 38, 38, 18, 28, 36, 30, 39, 32. How does the outlier affect the mean? If necessary, round to the n
2 answers:
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Answer:
18.67% of bills are greater than $131
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore 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 pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
What proportion of bills are greater than $131
This proportion is 1 subtracted by the pvalue of Z when X = 131. So
has a pvalue of 0.8133
1 - 0.8133 = 0.1867
18.67% of bills are greater than $131
Hello!
To find how much money total will be in the account after four years, you need to use the function, , as seen above. In this function, a is the starting value, r is the interest rate, and t is the amount of time (in years).
Before substituting values into the function, we need to convert 3% into a decimal. Remember that all percentages are out of 100, so we divide 3 by 100 and remove the percentage sign, or move the decimal two places to the left.
3/100 = 0.03 | 0.03 is the interest rate.
With all the necessary values, we can find the total amount in the account. In this case, a = 1200, r = 0.03, and t = 4.
y = 1350.610572, which can be rounded to 1350.61 dollars.
Therefore, after 4 years, the total amount in the account will be about 1350.61 dollars.