Ask question

Ask question

All categories

2 years ago

15

Victor borrowed money at 5.25 percent simple annual interest. At the end of the year, the interest on the loan is $255.94. What

was the amount of the loan?

2 answers:

galina1969 [7]2 years ago

3 1

Answer:

Step-by-step explanation:

The answer is $4,875.05.

4,875.05 multiplied by 0.0525 is $255.94

n200080 [17]2 years ago

3 0

Answer:

The answer is $4,875.05.

Step-by-step explanation:

You might be interested in

Isabella paid one of her bill late and owed a 4% late fee was 780. How much was Isabella's original bill in dollar

Rainbow [258]

You multipy 0.04 x 780

5 0

2 years ago

During a 5-kilometer run to raise money for the school band, Tabitha ran 0.08 kilometer per

Thepotemich [5.8K]

Answer:

True

0.08 km/ 1 min = 1 mi = 1.61 km

answer rounds to 0.05

7 0

2 years ago

According to a Yale program on climate change communication survey, 71% of Americans think global warming is happening.† (a) For

SpyIntel [72]

Answer:

a) 0.2741 = 27.41% probability that at least 13 believe global warming is occurring

b) 0.7611 = 76.11% probability that at least 110 believe global warming is occurring

Step-by-step explanation:

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

In which $C_{n,x}$ is the number of different combinations of x objects from a set of n elements, given by the following formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of X happening.

The expected value of the binomial distribution is:

$E(X) = np$

The standard deviation of the binomial distribution is:

$\sqrt{V(X)} = \sqrt{np(1-p)}$

Normal probability distribution

Problems of normally distributed samples can be solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the zscore of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

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.

When we are approximating a binomial distribution to a normal one, we have that $\mu = E(X)$ , $\sigma = \sqrt{V(X)}$ .

In this problem, we have that:

$p = 0.71$

(a) For a sample of 16 Americans, what is the probability that at least 13 believe global warming is occurring?

Here $n = 16$ , we want $P(X \geq 13)$ . So

$P(X \geq 13) = P(X = 13) + P(X = 14) + P(X = 15) + P(X = 16)$

In which

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 13) = C_{16,13}.(0.71)^{13}.(0.29)^{3} = 0.1591$

$P(X = 14) = C_{16,14}.(0.71)^{14}.(0.29)^{2} = 0.0835$

$P(X = 15) = C_{16,15}.(0.71)^{15}.(0.29)^{1} = 0.0273$

$P(X = 16) = C_{16,16}.(0.71)^{16}.(0.29)^{0} = 0.0042$

$P(X \geq 13) = P(X = 13) + P(X = 14) + P(X = 15) + P(X = 16) = 0.1591 + 0.0835 + 0.0273 + 0.0042 = 0.2741$

0.2741 = 27.41% probability that at least 13 believe global warming is occurring

(b) For a sample of 160 Americans, what is the probability that at least 110 believe global warming is occurring?

Now $n = 160$ . So

$\mu = E(X) = np = 160*0.71 = 113.6$

$\sigma = \sqrt{V(X)} = \sqrt{np(1-p)} = \sqrt{160*0.71*0.29} = 5.74$

Using continuity correction, this is $P(X \geq 110 - 0.5) = P(X \geq 109.5)$ , which is 1 subtracted by the pvalue of Z when X = 109.5. So

$Z = \frac{X - \mu}{\sigma}$

$Z = \frac{109.5 - 113.6}{5.74}$

$Z = -0.71$

$Z = -0.71$ has a pvalue of 0.2389

1 - 0.2389 = 0.7611

0.7611 = 76.11% probability that at least 110 believe global warming is occurring

3 0

2 years ago

Harper is buying bulk spices for her restaurant. She is shopping for the best deal. Drag the spices in order from the least to t

Ket [755]

What are bulk spices?

4 0

2 years ago

Read 2 more answers

a deli sells sliced meat and cheese. one customer purchases 4 pounds of meat and 5 pounds of cheese for a total of $30.50. a san

Nesterboy [21]

Since my answer was deleted here it is:

The variable x represents the cost per pound of meat.

The variable y represents the cost per pound of cheese.

The deli charges $4.50 for a pound of meat.

Have a great day! (this is late but for anyone else who needs it)

5 0

2 years ago

Read 2 more answers