How much interest does $400 make in 5 years at 7% per annum?
1 answer:
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Answer:
And if we solve for a we got
Step-by-step explanation:
Let X the random variable that represent the lenght time it takes to find a parking space at 9AM of a population, and for this case we know the distribution for X is given by:
Where and
For this part we want to find a value a, such that we satisfy this condition:
(a)
(b)
As we can see on the figure attached the z value that satisfy the condition with 0.7 of the area on the left and 0.3 of the area on the right it's z=0.524
If we use condition (b) from previous we have this:
But we know which value of z satisfy the previous equation so then we can do this:
And if we solve for a we got