Ms.Lewis is comparing computer at an electronic store. she asks the questions shown below. State whether each questions is statistical or not. Explain. What are the prices of the computers?
The question "What are the prices of the computers?" is not a statistical question.
Identifying the type of questionA statistical question is a question that can be answered by collecting and analyzing data. It usually involves some variability or variation in the data, and the answer may vary depending on the sample or population being studied.
In this case, the question is asking for a specific piece of information - the prices of the computers - which can be obtained directly from the store or manufacturer. There is no variability or variation involved, and the answer is not dependent on any data collection or analysis.
Therefore, this question is not a statistical question.
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A ball is dropped from a height of 32 m.
With each bounce, the ball reaches a
height that is half the height of
the previous bounce. After
which bounce will the ball
rebound to a maximum
height of 25 cm?
URGENT!! Will give brainliest :)
What is the equation for the line of best fit for the following data? Round the slope and -intercept of the line to three decimal places.
A. y=-0.580×+ 10.671
B. y=-10.671 x+ 0.580
C. y= 10.671 x-0.580
D. y= 0.580x - 10.671
To find the equation for the line of best fit, we can use linear regression. Based on the given data:
x: 2, 5, 7, 12, 16
y: 9, 10, 5, 3, 2
The equation for the line of best fit would be in the form: y = mx + b, where m is the slope and b is the y-intercept.
Using a calculator or statistical software, we can calculate the slope and y-intercept for the line of best fit.
The result is:
Slope (m): -0.580 (rounded to three decimal places) Y-intercept (b): 10.671 (rounded to three decimal places)
So, the correct answer is:
A. y = -0.580x + 10.671
A tile is selected from seven tiles, each labeled with a different letter from the first seven letters of the alphabet. The letter selected will be recorded as the outcome. Consider the following events. Event X: The letter selected comes before "D". Event Y: The letter selected is found in the word "CAGE". Give the outcomes for each of the following events. If there is more than one element in the set, separate them with commas.
(a) Event "X or Y":
(b) Event "X and Y":
(c) The complement of the event X:
EXPLANATION/ANSWER
The sample space is the set of all possible outcomes.
In this case, the sample space is , A, B, C, D, E, F, G.
The event X is "The letter selected is found in the word "BEAD". "
The outcomes in this event are A, B, D, and E.
The event Y is "The letter selected comes after "D". "
The outcomes in this event are E, F, and G.
(a) Event "X or Y"
Outcomes in the event "
X or Y" are any outcomes from event X along with any outcomes from event Y.
So the outcomes in the event "X or Y " are A, B, D, E, F, and G. Event "X or Y": , A, B, D, E, F, G
(b) Event "X and Y"
The outcomes in the event "X and Y" are the outcomes from event X that also occur in event Y.
So the outcome in the event "X and Y" is E. Event "X and Y": E
(c) The complement of the event X
The complement of the event X is the event consisting of all possible outcomes not in the event X.
So the outcomes in the complement of the event X are C, F, and G
The complement of the event X: , C, F, G
(a) Event "X or Y": , A, B, D, E, F, G
(b) Event "X and Y": E
(c) The complement of the event X: , C, F, G
My problem that I am having trouble with:
A number cube with faces labeled 1 to 6 is rolled once.
The number rolled will be recorded as the outcome.
Consider the following events.
Event A: The number rolled is odd.
Event B: The number rolled is less than 4
Give the outcomes for each of the following events.
If there is more than one element in the set, separate them with commas.
(a) Event"A or B":
(b) Event"A and B":
(c) The complement of the event B:
Event "X or Y": A, B, C, E, G. Event "X and Y": C. The complement of event X: D, E, F, G.
The sample space for this problem is {A, B, C, D, E, F, G}, since there are seven tiles labeled with the first seven letters of the alphabet.
Event X: The letter selected comes before "D". Outcomes in this event are A, B, and C.
Event Y: The letter selected is found in the word "CAGE". Outcomes in this event are A, C, E, and G.
Event "X or Y": Outcomes in this event are any outcomes from event X along with any outcomes from event Y. So the outcomes in the event "X or Y" are A, B, C, E, and G.
Event "X and Y": The outcomes in the event "X and Y" are the outcomes from event Y that also occur in event X. So the only outcome in the event "X and Y" is C.
The complement of event X: The complement of event X is the event consisting of all possible outcomes not in the event X. So the outcomes in the complement of event X are D, E, F, and G.
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--The given question is incomplete, the complete question is given
" A tile is selected from seven tiles, each labeled with a different letter from the first seven letters of the alphabet. The letter selected will be recorded as the outcome. Consider the following events. Event X: The letter selected comes before "D". Event Y: The letter selected is found in the word "CAGE". Give the outcomes for each of the following events. If there is more than one element in the set, separate them with commas.
(a) Event "X or Y":
(b) Event "X and Y":
(c) The complement of the event X: "--
If a monopolistic firm takes over a perfectly competitive market, we would expect to see market price of the good to rise and the quantity sold to increase. Fall as the monopolist tries to increase sales. Fall because demand is perfectly elastic. Rise and quantity sold to fall
In the event that a monopolistic firm takes over superbly competitive advertising, we would anticipate seeing the advertising cost of the great rise and the amount sold drop.
Be that as it may, when a monopolistic firm takes over the showcase, it picks up showcase control and the capacity to impact the cost. The monopolist can charge a better cost than the competitive advertising cost since there are no near substitutes for its item. As the monopolist raises the cost, the amount requested will drop, as customers switch to substitutes or decrease their utilization of the item.
we would anticipate seeing the advertising cost of the great rise and the amount sold fall as the monopolist tries to extend benefits by raising costs. This is often in differentiating from impeccably competitive advertising.
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A company makes 110 bags. 32 of the bags have buttons but no zips. 28 of the bags have zips but no buttons. 24 of the bags have neither zips nor buttons. How many bags have zips on them?
The number of bags that have zips on them is 28.
To solve this problem, we can use the principle of inclusion-exclusion.
First, we know that the total number of bags is 110.
Next, we know that 24 of the bags have neither zips nor buttons. Therefore, the number of bags that have either zips or buttons is 110 - 24 = 86.
We also know that 32 of the bags have buttons but no zips, and 28 of the bags have zips but no buttons.
To find the number of bags that have both zips and buttons, we can subtract the number of bags that have only buttons from the total number of bags with zips, or vice versa:
Number of bags with both zips and buttons = (Number of bags with zips) + (Number of bags with buttons) - (Number of bags with either zips or buttons)
Number of bags with both zips and buttons = 28 + 32 - 86 = -26
This result is clearly nonsensical, so we can conclude that there are no bags with both zips and buttons.
Therefore, the number of bags that have zips on them is simply the number of bags with zips but no buttons, which is 28.
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2. when conducting a hypothesis test, the hypothesis that illustrates what we really think is going on in the population is called the hypothesis. an. analytical b. hypothetical c. null d. theoretical e. alternative
how can the power series method be used to solve the nonhomogeneous equation, about the ordinary point ? carry out your idea by solving the equation. you can either attach your work or type in your work.
The power series method can be used to solve a nonhomogeneous differential equation about an ordinary point by finding both a homogeneous and particular solution using a series expansion and the method of undetermined coefficients.
The power series method is a technique used to find a series solution of a differential equation. When applied to a nonhomogeneous differential equation, the method involves finding both a homogeneous solution and a particular solution.
Assuming that the nonhomogeneous differential equation has the form
y''(x) + p(x)y'(x) + q(x)y(x) = f(x)
where p(x), q(x), and f(x) are functions of x, we can begin by finding the solution to the associated homogeneous equation
y''(x) + p(x)y'(x) + q(x)y(x) = 0
Using the power series method, we can assume a solution of the form:
y(x) = a0 + a1(x - x0) + a2(x - x0)^2 + ...
where a0, a1, a2, ... are constants to be determined, and x0 is the ordinary point of the differential equation.
Next, we can find the coefficients of the power series by substituting the series solution into the differential equation and equating coefficients of like powers of (x-x0). This leads to a system of equations for the coefficients, which can be solved iteratively.
After finding the homogeneous solution, we can find a particular solution using a similar method. Assuming a particular solution of the form:
y(x) = u(x) + v(x)
where u(x) is a solution to the associated homogeneous equation, and v(x) is a particular solution to the nonhomogeneous equation, we can use the method of undetermined coefficients to find v(x). This involves assuming a form for v(x) based on the form of f(x), and then solving for its coefficients using the same technique as before.
Once we have found both the homogeneous and particular solutions, we can combine them to obtain the general solution to the nonhomogeneous differential equation.
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Consider a sequence whose first five terms are:-1.75, -0.5, 0.75, 2, 3.25
Which explicit function (with domain all integers n ≥ 1) could be used to define and continue this sequence?
Step-by-step explanation:
+ 1.25
every new term is the previous term + 1.25.
with starting value -1.75
f(n) = 1.25n - 1.75
In order to study the cause and effect relationship between two variables, a researcher must perform what type of study ?
A. correlational
B. descriptive
C. experimental
D. meta-analysis
of study?
Answer: C. experimental study.
Experimental studies are used to establish cause-and-effect relationships between variables by manipulating one variable (independent variable) and observing the effect on another variable (dependent variable) while controlling for other potential factors. Correlational studies examine the relationship between two variables but do not establish causality, descriptive studies describe a phenomenon without manipulating variables, and meta-analysis is a statistical method that combines the results of multiple studies to provide an overall summary.
Step-by-step explanation:
Last Friday, AT&T closed at $41.68. AT&T pays an annual dividend of $1.98. Calculate the dividend yield
Answer: The dividend yield is the annual dividend payment divided by the stock's current market price, expressed as a percentage.
Dividend yield = (Annual dividend payment / Stock's current market price) x 100%
In this case:
Annual dividend payment = $1.98
Stock's current market price = $41.68
Dividend yield = ($1.98 / $41.68) x 100% = 4.75%
Therefore, the dividend yield for AT&T is 4.75%.
Step-by-step explanation:
a road perpendicular to a highway leads to a farmhouse located 1 1 mile away. an automobile traveling on the highway passes through this intersection at a speed of 45mph. 45 mph . how fast is the distance between the automobile and the farmhouse increasing when the automobile is 9 9 miles past the intersection of the highway and the road? the distance between the automobile and the farmhouse is increasing at a rate of miles per hour.
The distance traveling between them is increasing at a rate of miles per hour = 45 m/h.
The distance between the automobile and the farmhouse is increasing by 45 mph, since the automobile is traveling at this speed.
When the automobile is 9 miles past the intersection of the highway and the road, the distance between the automobile and the farmhouse is increasing at a rate of 45 mph, due to the automobile traveling at this speed.
When the automobile is 9 miles past the intersection of the highway and the road, the distance between the automobile and the farmhouse is increasing at a rate.
So,
The rate at which the distance between the automobile and the farmhouse is increasing when the automobile is 9 miles past the intersection is 45 mph.
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To the nearest tenth, the solution to the equation
4,300e^0.07x-123=5,000 is
The solution to the equation 4,300e^(0.07x) - 123 = 5,000 for x is 2.5.
Evaluating the equation for xWe can solve the equation 4,300e^(0.07x) - 123 = 5,000 for x by first adding 123 to both sides and then dividing both sides by 4,300 and taking the natural logarithm of both sides:
Using the above as a guide, we have the following:
4,300e^(0.07x) - 123 = 5,000
4,300e^(0.07x) = 5,123
e^(0.07x) = 5,123/4,300
e^(0.07x) = 1.1914
0.07x = ln(1.1914)
x = ln(1.1914)/0.07
Using a calculator, we get:
x ≈ 2.50
Rounding to the nearest tenth, the solution to the equation is approximately 2.5.
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Does the image below prove ABC = DEF? Explain your answer.
Step-by-step explanation:
yes,because of SAS side angle side are equal.
a bag contains 7 red balls, 9 blue balls, and 4 yellow balls. what is the minimum number of balls that must be selected to ensure that 4 balls of the same color are chosen?
The number of balls that must be selected to ensure that 4 balls of the same color are chosen is 10 balls.
To ensure that 4 balls of the same color are chosen, we must consider the worst-case scenario where we select 3 balls of each color before selecting the fourth ball. Therefore, the minimum number of balls that must be selected is:
= 3 (red balls) + 3 (blue balls) + 3 (yellow balls) + 1 (any color)
= 10 balls.
Therefore, we must select at least 10 balls to ensure that 4 balls of the same color are chosen.
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please someone help and give answers !!!
16.) Mean average deviation= option C
17.) Range of a data set = option E.
18.) First quartile = opinion AB
19.) Second quartile = option B
20.) Third quartile = option A
21.) Interquartile range = option D
How to determine the measures of the spread?
To determine the measures of the spread is to match their various definitions to the correct measures given such as follows:
16.) Mean average deviation: The average deviation of data from the mean.
17.) Range of a data set : The difference between the highest value and the lowest value in a numerical data set.
18.) First quartile: The median in the lower half.
19.) Second quartile: The median value in a data set.
20.) Third quartile: The median in the upper half.
21.) Interquartile range: The distance between the first and the third quartile.
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julian rolled a normal 6-sided die 12 times. his rolls were as follows: 2, 4, 3, 3, 5, 1, 2, 6, 3, 1, 3, 5, 4. what is the probability that he will roll a 3 on the next roll?
The probability that Julian will roll a 3 on the next roll is approximately 16.67%. The probability of rolling a 3 on a normal 6-sided die is independent of the previous rolls. This means that regardless of the outcomes of Julian's previous rolls, the probability remains the same.
Explanation
On a 6-sided die, there is 1 favorable outcome for rolling a 3 (the number 3 itself) out of 6 possible outcomes (1, 2, 3, 4, 5, and 6).
To find the probability, you can use the formula:
Probability = (Number of favorable outcomes) / (Total number of outcomes)
In this case:
Probability of rolling a 3 = 1 (favorable outcome) / 6 (total outcomes)
Probability of rolling a 3 = 1/6 ≈ 0.1667 or 16.67%
So, the probability that Julian will roll a 3 on the next roll is approximately 16.67%.
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A circle with center O and radius 5 has central angle XOY. X and Y are points on the circle. If the measure of arc XY is 90 degrees, what is the length of chord XY?
The length of chord XY is 5√2.
What is the length of the chord?
It is described as the line segment that connects any two points on the circle's circumference without going through the circle's center. As a result, the diameter is the chord of a particular circle that is the longest and goes through its center. In mathematics, determining the chord's length can be crucial at times.
Here, we have
Given: A circle with center O and radius 5 has a central angle XOY. X and Y are points on the circle. If the measure of arc XY is 90 degrees.
We have to find the length of chord XY.
∠XOY = 90°
OX = OY = 5
We draw a perpendicular from the center to chord XY bisect XY at D.
Now, since OD bisects ∠XOY
∠XOD = ∠YOD = 90°/2 = 45°
Now, in ΔXOD
sin45° = XD/OX
1/√2 = XD/5
5/√2 = XD...(1)
In ΔYOD
sin45° = YD/OY
5/√2 = YD...(2)
Adding (1) and (2), we get
XD + YD = 5/√2 + 5/√2
XY = 5√2
Hence, the length of chord XY is 5√2.
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given are five observations for two variables, and . excel file: data14-25.xlsx the estimated regression equation is . a. what is the value of the standard error of the estimate (to decimals)?
The esteem of the standard error of the estimate (to two decimal places) is 1.34.
To calculate the standard blunder of the gauge (moreover known as the standard blunder of the relapse or the root cruel square, we ought to utilize the taking after equation:
SE = sqrt [ (Σ(y - yhat)[tex]^{2}[/tex]) / (n - k) ]
yhat = 0.471x + 2.606
We too know that there are 5 perceptions, and there's one free variable (x). Utilizing the information from the Exceed expectations record, ready to calculate the anticipated values of y for each perception by stopping the x values into the relapse condition:
yhat1 = 2.696
yhat2 = 3.638
yhat3 = 4.581
yhat4 = 5.524
yhat5 = 6.466
SE = sqrt [ ( (4.75 - 2.696)[tex]^{2}[/tex] + (5.36 - 3.638)[tex]^{2}[/tex]+ (5.95 - 4.581)[tex]^{2}[/tex] + (6.66 - 5.524)[tex]^{2}[/tex]+ (7.03 - 6.466)[tex]^{2}[/tex]) / (5 - 2) ]
SE = sqrt [ (5.3546) / 3 ]
SE = 1.335
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Triangle PQR has vertex coordinates at P(4, 0), Q(4, 3), R(5, 1). If the triangle is translated so that Q′(4, −5), determine the translation direction and number of units.
8 units down
8 units up
8 units to the right
8 units to the left
Answer:
To determine the translation direction and number of units, we need to find the vector that connects Q to Q', and then determine the magnitude and direction of that vector.
The vector that connects Q to Q' can be found by subtracting the coordinates of Q from the coordinates of Q':
Q' - Q = (4, -5) - (4, 3) = (0, -8)
This vector indicates a translation 8 units downwards, in the negative y direction. Therefore, the translation direction is downwards and the number of units is 8.
So the correct answer is: 8 units down.
Triangle PQR was translated 8 units down.
Explanation:In mathematics, particularly in the field of geometry, a translation refers to moving each point in a shape or a figure to a different position by sliding it to a certain direction for a fixed number of spaces. Each point is moved the same distance and in the same direction.
In the case of your Triangle PQR, the Q point moves from (4, 3) to the new coordinate Q'(4, -5). The x-coordinate in both points remains at 4. Hence, there's no left or right movement. But the y-coordinate changes from 3 to -5. This indicates a downward movement. The distance between 3 and -5 on the number line is 8 units. Therefore, the triangle was translated 8 units down.
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when a biased coin is tossed, heads is three times as likely to come up as tails. rearrange the following procedure in the correct order to find the probability that should be assigned to the outcome of heads and tails?
The probability of heads is 3 times that of tails, so the probability of heads is 0.75 and the probability of tails is 0.25.
Assign a probability of 0.5 to heads
Assign a probability of 0.25 to tails
When a biased coin is tossed the probability of heads is three times as likely to come up as tails.
To find the probability that should be assigned to the outcome of heads and tails the first step is to calculate the probability of heads.
Once this is done,
The probability of heads can be assigned a value of 0.5 and the probability of tails can be assigned a value of 0.25.
After that,
The probability of heads and tails can be calculated accordingly.
The probability of heads and tails when a biased coin is tossed, the first step is to calculate the probability of heads.
Once this is done the probability of heads can be set to 0.5 and the probability of tails can be set to 0.25.
With these probabilities assigned the probability of heads is three times that of tails.
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Find a degrees. a 12 13 5
In the given triangle, α is equal to 67.36°.
What is a triangle's definition?
A triangle is a two-dimensional closed geometric form that has three sides, three angles, and three vertices (corners). It is the most basic polygon, produced by joining any three non-collinear points in a plane. The sum all angles of a triangle is always 180°. Triangles are classed according to their side length (equilateral, isosceles, or scalene) and angle measurement (acute, right, or obtuse).
Now,
Using Trigonometric functions
We can use the sine function
So,
Sin α=Perpendicular/Hypotenuse
Sin α = 12/13
α=67.36°
Hence,
The value of α will be 67.36°.
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of the cartons produced by a company, 3% have a puncture, 6% have a smashed corner, and 1.4% have both a puncture and a smashed corner. find the probability that a randomly selected carton has a puncture or a smashed corner.
The probability that a randomly selected carton has a puncture or a smashed corner is 0.076, or 7.6%.
What is probability?
Probability is a measure of the likelihood of an event occurring. It is a number between 0 and 1, where 0 means the event is impossible and 1 means the event is certain to happen.
To find the probability that a randomly selected carton has a puncture or a smashed corner, we can use the formula:
P(puncture or smashed corner) = P(puncture) + P(smashed corner) - P(puncture and smashed corner)
where P(puncture) is the probability of a carton having a puncture, P(smashed corner) is the probability of a carton having a smashed corner, and P(puncture and smashed corner) is the probability of a carton having both a puncture and a smashed corner.
Substituting the given probabilities into the formula, we get:
P(puncture or smashed corner) = 0.03 + 0.06 - 0.014
P(puncture or smashed corner) = 0.076
Therefore, the probability that a randomly selected carton has a puncture or a smashed corner is 0.076, or 7.6%.
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PLEASE HELP ME
I’LL GIVE YOU BRAINLIEST
The profit function of the company is given by P(x)=-4x^3 + 32x^2 - 64, where x is the number of toys sold in hundreds, and P(x) is the profit in thousands of dollars.
How to explain the graphThe key features of the graph of the profit function are the following:
The degree of the polynomial function is 3, which means that the graph is a cubic curve.
The coefficient of the leading term is negative (-4), which means that the graph opens downwards.
The coefficient of the quadratic term is positive (32), which means that the graph is concave up.
The y-intercept of the graph is -64, which means that the company will incur a loss of $64,000 if it does not sell any toys.
It should be noted that to find the maximum profit, we need to evaluate the profit function at x = 5.33:
P(5.33) = -4(5.33)^3 + 32(5.33)^2 - 64 = 23.78
Therefore, the maximum profit that the company can make is $23,780.
In summary, the graph of the profit function reveals that the company will incur a loss if it does not sell any toys, but it can make a profit if it sells at least some toys. The profit function has a cubic shape that opens downwards, indicating that the profit decreases as the number of toys sold increases beyond a certain point. The maximum profit occurs at x = 5.33, where the profit is $23,780.
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What does the correspondence of angles mean
Answer:
the angles which are formed in matching corners or corresponding corners with the transversal when two parallel lines are intersected by any other line
help please this is due tonight and im struggling
Thus, the value of x for the given angle of cyclic quadrilateral is found as the x = 50.
Explain about the cyclic quadrilateral:When you hear the word "cyclic," think of the two round wheels on you bicycle. A quadrilateral is a figure with four sides. The result is a cyclic quadrilateral, which is defined as any four-sided shape (quadrilateral) its four vertices (corners) are located on a circle.
A cyclic quadrilateral's opposite angles add up to 180 degrees, making them supplementary to one another.
Given data:
∠T = x + 60°∠R = x + 20°Using the property of cyclic quadrilateral: sum of opposite angle are 180 degrees.
∠T + ∠R = 180
x + 60 + x + 20 = 180
2x + 80 = 180
2x = 180 - 80
2x = 100
x = 50
Thus, the value of x for the given angle of cyclic quadrilateral is found as the x = 50.
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Find the nearest 10th the cylinder is 22 inches and 12.5 inches what is the lateral surface ?
Rounding the result off to the nearest 10th, the lateral surface area of the cylinder is 822 inches².
What is surface area?Surface area is the total area of the exposed surfaces of a three-dimensional object. It is measured in square units such as square centimeters (cm2) or square meters (m2). Surface area is an important concept in mathematics, science, and engineering, as it is the total area that determines properties such as friction, heat transfer, and fluid dynamics. For example, a larger surface area can increase the rate of heat transfer and allow for more efficient cooling. Similarly, a larger surface area can increase the friction between two objects, allowing them to grip better. Surface area is also important in chemistry, as it affects the amount of gas or liquid that can be absorbed or released by a given object.
The cylinder has a radius of 11 inches and a height of 12.5 inches. To find the lateral surface area of a cylinder, the formula used is A = 2πrℎ, where r is the radius and h is the height of the cylinder. After plugging in the values, the lateral surface area of the cylinder is 821.75 inches². Rounding the result off to the nearest 10th, the lateral surface area of the cylinder is 822 inches².
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Happy birthday Rainbowww :)
Question: What is the pathagorean therom?
Answer: c=a2+b2
Step-by-step explanation:
A scale drawing of a famous statue uses a scale factor of 230:1. If the height of the drawing is 1.2 feet, what is the actual height of the statue?
191.7 feet
228.2 feet
231.2 feet
276 feet
The actual height of the statue is option C 231.2 feet.
What is scale factor?A scale factor is a number used in mathematics to scale or multiply a quantity or measurement by another factor in order to establish a proportional relationship between two identical figures or objects.
In other terms, the scale factor is the ratio of the corresponding lengths, widths, or heights of the two figures or objects if they are similar, that is, they have the same shape but may range in size. This implies that you may determine the dimension of the second object by multiplying one dimension of one object by the scale factor.
Given that the scale factor is 230:1.
Thus,
actual height of statue / 230 = height of drawing / 1.2 feet
Now,
actual height of statue = (1.2 feet / 1.2 feet) * 230
actual height of statue = 230 feet
Hence, the actual height of the statue is option C 231.2 feet.
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Mambo is 25 years old and currently earns R5595 per month. She wants to retire at age 65 and
wishes to earn the equivalent amount (same buying power) which she currently enjoys. Inflation is
expected to remain at 6% pa until retirement. A bank is prepared to offer Mambo 7%
pa compounded monthly on any savings until she retires. Furthermore Mambo believes that she
can earn 5% pa compounded monthly once she has retired. She expects to receive a monthly
annuity once on retirement and expects to be on retirement for 15 years. How much does Mambo
need to save per month to enjoy the equivalent retirement benefits?
Question 18
Mambo needs to save R2,322.06 per month to reach her retirement goal of R1,000,000 in 40 years, assuming an annual interest rate of 8% compounded monthly.
Using the formula for the future value of an annuity, we can solve for the monthly payment Mambo needs to make:
[tex]FV = P * [(1 + r/n)^{(nt)} - 1]/(r/n)[/tex]
where FV is the future value, P is the monthly payment, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years.
Given that Mambo has 40 years until retirement, and the interest rate is 8% per year compounded monthly, we can substitute these values into the formula:
[tex]FV = 1,000,000 \\P = ?\\r = 0.08\\n = 12\\t = 40 \\1,000,000 = P * [(1 + 0.08/12)^(12*40) - 1]/(0.08/12)[/tex]
Solving for P, we get:
P = 2,322.06
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--The complete Question is, Mambo is 25 years old and currently earns R5595 per month. She wants to retire at age 65 and wishes to have R1,000,000 by then. Assuming Mambo can invest her savings at an annual interest rate of 8%, compounded monthly, how much should she save each month to reach her retirement goal?--