The variable is Quantitative, has Interval level of measurement.
Variables which can be quantified & expressed numerically are Quantitative variables. Eg : as given , price
Variables which cant be qualified & expressed numerically are Qualitative variables. Eg : level of honesty, loyalty etc
Nominal & Ordinal are qualitative variables : signifying yes or no to a category (like men or women) , or ranks (x better than y) respectively. So price level is not such categorical & ordinal ratio.
Quantitative ratio variables are with reference to time , or are in forms of rate (like speed , growth per year). So, price level is not such ratio variable also.
Price is a quantitative variable, in which the ranking, its difference can be calculated. This is characteristic of a <u>Quantitative Interval Variable</u>.
You would count on.
I hope i am right
Answer:
a) 0.7403
b)0.0498
c)0.2240
Step-by-step explanation:
Given: The number of surface flaws in plastic panels used in the interior of automobiles has a Poisson distribution
We know that to calculate expected number of flaws use
expected number of flaws =10×0.03 =0.3
a) probability that there are no surface flaws in an auto's interior =P(X=0)=
e^-0.3 =0.7408
b) probability that none of the 10 cars has any surface flaws =(e^-0.3)^10 =0.0498
c) probability that at most one car has any surface flaws =P(X<=1)=P(X=0)+P(X=1)
this means
=10C_0(1-0.7408)^0(0.7408)^10+10C_1(1-0.7408)^1(0.7408)^9=0.2240
14,999(1+.o825)^4= 20,595. $429x48 months= 20,592
Interest rate 8 1/4%
Check 20592/14999= 1.37289
Log(1.37289)/ log(1.0825)= 3.99 years
