Answer:
26%
Step-by-step explanation:
Your 36 monthly payments will total ...
36 × $205.10 = $7383.60
$5860 of that is the amount you borrowed. The remainder is the interest you pay:
$7383.60 -5860 = $1,523.60
As a percentage of the original loan amount this is ...
$1523.60/$5860 × 100% = 26%
You pay back 26% of the original loan amount in interest.
Answer:
a)
And we can use the probability mass function and we got:
And adding we got:
b)
c)
And replacing we got:
d)
Step-by-step explanation:
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Solution to the problem
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
Part a
We want this probability:
And we can use the probability mass function and we got:
And adding we got:
Part b
We want this probability:
And using the probability mass function we got:
Part c
We want this probability:
We can use the complement rule and we got:
And replacing we got:
Part d
The expected value is given by:
And replacing we got:
Discrete domains and continuous domains are both sets. However a discrete domain contains a finite number of elements and continuous can contain and infinite number of elements.
The answer is the third one -2.