There were 100 small pine cone patterns and 50 large pine cone patterns used in the camp.
When 50 students constructed one craft project each using two little pine cone patterns and one giant pine cone pattern, it is the question of how many small and large pine cone patterns were utilised overall:
We can begin by figuring out how many little pine cone patterns were utilized overall to solve this.
Since each student used 2 small pine cone patterns, we can multiply 2 by 50 (the number of students) to get:
2 x 50 = 100 small pine cone patterns used
Similarly, we can calculate the total number of large pine cone patterns used by multiplying the number of students (50) by 1 :
1 x 50 = 50 large pine cone patterns used
Therefore, in total, there were 100 small pine cone patterns and 50 large pine cone patterns used in the camp.
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--The complete Question is, If a camp has 50 students and each student made one craft project using 2 small pine cone patterns and 1 large pine cone pattern, how many small and large pine cone patterns were used in total? --
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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assuming we are testing a hypothesis using the one-way anova test with more than 2 independent normally distributed populations, how can the f-statistic be calculated?
One measure we use to determine the F-statistics is the ratio of the variability within and across groups when we are doing the one way-ANOVA test.
We are interested in discovering whether there are significant differences between the means of the populations when doing a one-way ANOVA test on more than two independent normally distributed populations. A test statistic used to reach this conclusion is the F-statistic.
The ratio of the variability of the between group and within group is the a tool that we use to find the F-statistics.
F is equal to (SSB/k-1) / (SSW/N-k)
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What is the value of x in this triangle?
x=47°
The degree of a triangle is equal to 180°.
Since a triange=180°, you would subtract 180 by 102+31 because the other two angles are 102° and 31°.
180-102-31=47°
Therefore the answer would be x=47°
there are 5235 tennis balls that are to be put into packages of 3. how many packages of balls can you can be made?
1745 packages of tennis balls can be made from 5235 balls.
Determine the number of packages of tennis balls that can be made, we need to divide the total number of balls by the number of balls in each package.
5235 tennis balls and each package contain 3 balls.
Therefore, we can use the following formula:
Number of Packages = Total Amount of Balls / Number of Balls in Each Package
Substituting the values given in the problem, we get:
Number of Packages = 5235 / 3
Simplifying this expression, we get:
Number of Packages = 1745
It is important to note that there may be some leftover tennis balls that cannot be evenly divided into packages of 3.
Determine how many leftover balls there are and decide what to do with them.
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3. Soshi's rhombus has a base of 12 in. and a
height of 10 in. Jack's rhombus has base and
height measures that are double those of Soshis
rhombus. Compare the area of Jack's rhombus to
the area of Soshi's rhombus.
Answer:
The area of Jack's rhombus is four times the area of Soshi's rhombus.
Step-by-step explanation:
First, calculate the area of Soshi's rhombus. Use the formula for the area of a rhombus:
[tex]A = bh=\\A=(12)(10)=\\A=120[/tex]
Now, we have the Soshi's rhombus is 120 [tex]in^2[/tex].
Jack's rhombus' base and height are double those of Soshi's; multiply each value by two.
[tex]12*2=24\\\\10*2=20[/tex]
Now, substitute the values in the formula for the area of a rhombus:
[tex]A = bh=\\A=(24)(20)=\\A=480[/tex]
Notice that 480 is 4 times 120.
This is because area is a two-dimensional measure (measured in units squared, like [tex]in^2[/tex]) while length is a one-dimensional measure (measured in regular units, like cm and in), The one-dimensional measures of Jack's rhombus are double those of Soshi's, and to translate this to the two-dimensional measure of area, square 2 (2 squared is 2 times 2).
2 squared is 4, so:
the area of Jack's rhombus is four times that of Soshi's.
Using scientific notation, (5 x 10^6) (9 × 10^-2) = 6 x 10^n, where 1 ≤ b < 10 and
n is an integer.
What is the value of b? |
What is the value of n?
The equation (5 x 10⁶) (9 × 10⁻²) = 6 x 10⁴ when written in scientific notation. The value of b is 5 and the value of n is 4.
What is scientific notation?Scientific notation is a way of expressing numbers that are too large or too small to be conveniently written in standard decimal form. The number is written in the form of a number between 1 and 10 multiplied by a power of 10.
The value of b in this equation is 5. This is because the decimal points in both terms must be aligned in order to multiply them together.
The decimal points in each term are 6 and 2, respectively.
Since 6 is greater than 2, the decimal point for the total must be aligned with 6.
This means that the number 5 must be multiplied by 10⁶, resulting in b being 5.
The value of n in this equation is 4. This is because when the two terms are multiplied together, the exponents must be added.
The exponents of 10 in each term are 6 and -2, respectively.
When these are added together, they equal 4, resulting in the exponent of 10 in the new term to be 4.
Therefore, the equation (5 x 10⁶) (9 × 10⁻²) = 6 x 10⁴ when written in scientific notation. The value of b is 5 and the value of n is 4.
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In triangle LMN, angle N = 90 degrees. LM = 10, MN = 6, & LN = 8
What is tan of angle M?.
In a right triangle, tangent of one of non-right angles is equal to ratio of the length of opposite side to the length of adjacent side. The tangent of angle M is 5/3.
In this case, we want to find tangent of angle M.
Let's label the sides of triangle opposite, adjacent, and hypotenuse, as follows:
Opposite: side LM, which is opposite to angle M.
Adjacent: side MN, which is adjacent to angle M.
Hypotenuse: side LN, which is the longest side and opposite to the right angle N.
Using the Pythagorean theorem, we can find the length of the hypotenuse LN:
[tex]LN^2 = LM^2 + MN^2 \\LN^2 = 10^2 + 6^2\\LN^2 = 100 + 36\\LN^2 = 136LN = sqrt(136) = 2*sqrt(34)[/tex]
Now, we can use the tangent formula:
tan(M) = opposite/adjacent = LM/MN
tan(M) = 10/6 = 5/3
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In an all boys school, the heights of the student body are normally distributed with a mean of 69 inches and a standard deviation of 3.5 inches. What is the probability that a randomly selected student will be taller than 63 inches tall, to the nearest thousandth?
The probability that a randomly selected student will be taller than 63 inches tall is 0.9332, to the nearest thousandth.
_________are important to a systems analyst who must work with people at all organizational levels, balance conflicting needs of users, and communicate effectively.
Organizational skills
Organizational skills and the ability to communicate effectively are crucial for a systems analyst who needs to work with individuals at all levels of an organization, manage conflicting user needs, and ensure that information is communicated clearly and efficiently. Interpersonal skills are important to a systems analyst who must work with people at all organizational levels, balance conflicting needs of users, and communicate effectively. The knowledge and skills in leadership and strategic management are essential for the creation and achievement of an organizational vision and strategy. These skills include effective communication, decision-making, and the ability to evaluate and measure success, as well as a deep understanding of the organization and its environment. Leadership and strategic management play a crucial role in the success of any organization. A strong and effective leader with a well-developed understanding of strategic management is essential for the creation and achievement of an organizational vision and strategy.
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how many atheletes in total were acccused of using performance-enhancing drugs? of these, how many were using and how many were not? what percentage of those accused of using were falsely accused?
There have been numerous cases of athletes being accused of using performance-enhancing drugs, and the numbers may vary depending on the sport, country, and time period in question.
Additionally, determining how many athletes were using or not using performance-enhancing drugs would require specific information on individual cases.
Regarding the percentage of athletes falsely accused of using performance-enhancing drugs, it is difficult to determine an accurate figure without examining each case in detail. False accusations may occur due to various reasons, such as flawed testing procedures or contaminated supplements, and the percentage of false accusations may vary depending on the situation.
If you have a specific case or sport in mind, I can try to provide you with more information on that topic.
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PLS HURRY!!!
Natalie gathered a random sample of favorite writing utensils of the students in her class. She calculated data on different variables. For one data that she collected, she constructed a bar graph. Which of the following variables did she use?
O Price of writing utensil
O Type of writing utensil
O The volume of each writing utensil
O Weight of each writing utensil
Natalie used for constructing the bar graph is type of writing utensil.
What is bar graph ?The representation of numerical data using rectangles (or bars) of equal width and varying height is known as a bar graph.
Depending on the distribution and nature of the data, various types of charts or graphs, such as scatter plots, histograms, or box plots, would typically be used to represent the mentioned quantitative variables, such as the price, volume, and weight of each writing utensil.
Natalie probably used the variable "type of writing utensil" for the bar graph based on the information provided. This is due to the fact that a bar graph is a type of chart that uses rectangular bars to represent categorical data. Each bar represents a distinct category or group.
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Choose the algebraic description that maps abc onto abc in the given figure.
So the transformation is: (x, y) → (x + -8, y - 4) which is equivalent to option B.
What is transformation?In mathematics, a transformation is a process that manipulates the position, size, or shape of a geometric object. Transformations can include translations, rotations, reflections, and dilations. They are used to study geometric properties and relationships and are often used in fields such as geometry, algebra, and computer graphics. Transformations are important in understanding symmetry and congruence, as well as in solving problems involving geometric figures.
Here,
We can see that the transformation takes each point of the form (x, y) in ABC to a corresponding point of the form (x', y') in A'B'C'. To find the correct transformation, we need to determine how the coordinates of the points in ABC are related to the coordinates of the corresponding points in A'B'C'. One way to do this is to use the fact that the transformation should preserve the relative distances and angles between the points. Another way is to use the known coordinates of three corresponding points to determine the transformation directly.
In this case, we can see that the transformation maps (-3,-2) to (5,2), (-1,-4) to (7,0), and (-6,-5) to (2,-1). We can use these points to find the transformation:
(x, y) → (x', y')
To map (-3,-2) to (5,2), we need to add 8 to the x-coordinate and add 4 to the y-coordinate:
x' = x + 8
y' = y + 4
To map (-1,-4) to (7,0), we again add 8 to the x-coordinate, but this time we only add 4 to the y-coordinate:
x' = x + 8
y' = y + 4
To map (-6,-5) to (2,-1), we subtract 4 from the x-coordinate and subtract 4 from the y-coordinate:
x' = x - 4
y' = y - 4
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I NEED HELP ON THIS ASAP!
The exponential function for the new participants is f(x) = 3 * 4^x
Writing the exponential function for the new participantsLet's start with the initial number of participants who sent selfies on Day 0.
We know that Aliyah, Kim, and Reese each sent selfies to 4 friends, so there are 3 x 4 = 12 participants on Day 1.
On Day 2, each of these 12 participants will send selfies to 4 friends, so we will have 12 x 4 = 48 new participants.
We can see that the number of new participants each day is increasing exponentially. In fact, the number of new participants each day is multiplied by 4, since each participant sends selfies to 4 friends.
Therefore, we can write an exponential function of the form:
f(x)=a * 4^x
Where x is the number of days since the challenge started, and $a$ is the initial number of participants who sent selfies on Day 0.
We know that a = 12 from our earlier calculations.
So, we have
f(x) = 3 * 4^x
Hence, the function is f(x) = 3 * 4^x
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I need help ASAP mean absolute deviation (mad)
The absolute deviation for the observation of 16 in the data-set is given as follows:
5.
How to calculate the mean of a data-set?The mean of a data-set is given by the sum of all observations in the data-set divided by the number of observations, which is also called the cardinality of the data-set.
Hence the mean of the data-set in this problem is given as follows:
(19 + 16 + 4 + 9 + 7)/5 = 11.
The absolute deviation of 16 is given by the difference between 16 and the mean of 11, hence:
16 - 11 = 5.
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If each book is 5$ and I have 133$ then how many books can I buy?
Answer:
26
Step-by-step explanation:
You just divide 133 and 5 and you get 26.6
Answer:
26
Step-by-step explanation:
[tex]\frac{133}{5}[/tex] = 26.6
You cannot buy part of a book, so you can buy 26 books
26 x 5 = 130. You will have $3.00 left over.
Helping in the name of Jesus.
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
true or false? use cases can help with developing quantitative and measurable usability tests. group of answer choices
The given statement about developing quantitative and measurable usability tests is true.
Explain about how this given statement is true?Use cases can help with developing quantitative and measurable usability tests. Use cases are scenarios that describe how a user might interact with a system or product in a specific situation.
By developing use cases, researchers can identify specific tasks that users may need to perform and design usability tests to measure how well users can perform those tasks.
This can help make the usability tests more objective and measurable, as researchers can use metrics such as completion rates, task time, and errors to assess the usability of the system or product.
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Find the area of the trapezoid. 1. 6 m
4 m
12 m
2. 10 in. 15 in. 6 in
3. 2 yd
8 yd
6 yd
4. H = 10 cm, b,
= 3 cm, by = 5 cm
The area of the trapezoid is 72 square meters.
In order to find the area of a trapezoid, we need to use the formula:
Area = (b1 + b2) x h / 2
where b1 and b2 are the lengths of the parallel sides, and h is the height of the trapezoid.
In this case, we are given the lengths of the parallel sides as 6m and 12m respectively, and the height of the trapezoid is 4m.
So, we can plug these values into the formula to get:
Area = (6m + 12m) x 4m / 2
Area = 18m x 4m Area = 72m²
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Complete Question:
Find the area of the trapezoid.
Base 1 = 6 m
Height = 4 m
Base 2 = 12 m
a production process is designed to fill 100 soda cans per minute with with 6.8 ounces of soda, on average. overfilling is costly and under-filling risks a large fine. you are the production chief and instruct your staff to take regular random samples to test the process. what is the correct way to set up the hypotheses test?
Answer:
6.8 ounces
To set up a hypothesis test for this production process, we need to define the null and alternative hypotheses. The null hypothesis (H0) is that the average amount of soda in each can is equal to 6.8 ounces, while the alternative hypothesis (Ha) is that the average amount of soda in each can is not equal to 6.8 ounces.
We can then collect data by taking regular random samples from the production process and calculate the sample mean and standard deviation. We can then perform a statistical test such as a t-test or z-test to determine whether we can reject or fail to reject the null hypothesis.
If we reject the null hypothesis, we can conclude that there is evidence that the average amount of soda in each can is different from 6.8 ounces. If we fail to reject the null hypothesis, we cannot conclude that there is evidence that the average amount of soda in each can is different from 6.8 ounces.
I hope this helps! Let me know if you have any other questions.
the surface area of a cylinder is 936pi squares meters. the radius is 13m use the formula sa=2b=ph. to find the height of cylinder.
Answer: The formula for the surface area of a cylinder is:
SA = 2πr^2 + 2πrh
where SA is the surface area, r is the radius, and h is the height.
In this case, we know that the surface area is 936π square meters and the radius is 13 meters. So we can plug those values into the formula and solve for h:
936π = 2π(13^2) + 2π(13)(h)
Simplifying:
936π = 338π + 26πh
936π - 338π = 26πh
598π = 26πh
h = 598/26 = 23
Therefore, the height of the cylinder is 23 meters.
Step-by-step explanation:
Step-by-step explanation:
you made some mistakes with the formula.
the surface area of a cylinder is
the outside mantle area
+
the 2 circle areas on top and bottom.
the outside mantle area is
2×pi×radius×height
the 2 circle areas are
2 × pi×radius²
in total that is
2×pi×radius×height + 2×pi×radius² =
2×pi×radius×(height + radius) = 936pi
2×pi×13×(height + 13) = 936pi
pi×(height + 13) = 36pi
height + 13 = 36
height = 36 - 13 = 23 m
Claire works at the Sweet Shop, where candy is bagged and sold by its weight. Claire's last 4 sales of gourmet gummy worms are shown in the table.
The cost of the gummy worms is proportional to the amount, in pounds, of gummy worms purchased.
This situation can be represented by an equation in the form y = kx, where k is the constant of proportionality.
Gourmet
Gummy Worms,
x (pounds)
Cost,
y
0.75 $6.30
2.5 $21.00
4 $33.60
7 $58.80
What is the constant of proportionality?
The constant of proportionality is $8.40
What is constant of proportionality?The constant of proportionality is a value that relates two quantities that are proportional to each other. It is represented by the letter k and is found by dividing the dependent variable by the independent variable. In this case, the constant of proportionality is $8.40 for the given data set.
According to the given information:
To find the constant of proportionality, we can use any two data points from the table and plug them into the equation y = kx.
Let's use the first and second data points: (0.75, $6.30) and (2.5, $21.00).
We can set up the equation as:
$6.30 = k(0.75)
Solving for k, we get:
k = $6.30/0.75 = $8.40
Now, we can check our work by using another data point. Let's use the third data point: (4, $33.60).
Plugging in the values, we get:
$33.60 = k(4)
k = $33.60/4 = $8.40
Since we get the same value for k, we can be confident that our answer is correct.
Therefore, the constant of proportionality is $8.40.
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a marketing organization claims that less than 15% of its employees are paid minimum wage. if a hypothesis test is performed that fails to reject the null hypothesis, how would this decision be interpreted? g
If a hypothesis test is performed and fails to reject the null hypothesis, it would mean that there is not enough evidence to support the claim that less than 15% of the marketing organization's employees are paid minimum wage.
Therefore, it would not be concluded that the claim is true. The null hypothesis assumes that the claim is false or that the percentage of employees paid minimum wage is not significantly different from 15%.
The failure to reject the null hypothesis means that the evidence does not contradict the null hypothesis, but it does not necessarily prove it to be true.
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Chad drinks 64. 88 fluid ounces of water per day. How much water does he drink in 6 days
Chad drinks 389.28 fluid ounces of water in 6 days.
What is ounces?A unit of weight equal to ¹/₁₂ troy pound see Weights and Measures Table. : a unit of weight equal to ¹/₁₆ avoirdupois pound. : a small amount. an ounce of sense.
An ounce (oz) is a unit of weight that is equal to one-sixteenth of a pound. Items that weigh approximately one ounce include a slice of bread and a pencil. A fluid ounce is a unit of liquid volume that is equal to one-eighth of a cup. A medicine cup has a volume of approximately one fluid ounce.
given that,
chad drinks 64.88 fluid ounces of water per day,
so in 6 days
he will drink = 6 x water drink per day
= 6 x 64.88
= 389.28
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Madison is reading a book that is 860 pages long. She reads 25 pages in 0.5 hours. At that rate, how long will it take for her to read the entire book
Answer:
17.2 hours, or 17 hours and 12 minutes
Step-by-step explanation:
If she reads 50 pages per hour, then 860/50 = 17.2
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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what is the proportional relationship between x 2 6 8 10 and y 6 18 24 30
The proportional relationship is y = 3x.
What is the proportional relationship?
If the corresponding elements of two sequences of numbers, frequently experimental data, have a constant ratio, known as the coefficient of proportionality or proportionality constant, then the two sequences of numbers are proportional or directly proportional.
Here, we have
Given:
x: 2, 6, 8, 10
y: 6, 18, 24, 30
We have to find the proportional relationship between x and y.
So, we can see from inspection and visual observation that there is a proportional relationship between x and y.
6 = 3 2, 18 = 3 6, 24 = 3 8, 30 = 3 10.
Hence, The proportional relationship is y = 3x.
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you want to rent an unfurnished one-bedroom apartment for next semester. the mean monthy rent for a random sample of 45 apartments advertised in the local newspaper is $775. assume the standard deviation is $110. find a formula used to generate the 98% confidence interval for the mean monthly rent for unfurnished one-bedroom apartments available for rent in this community.
Formula:
98% Confidence Interval = (Mean - (2*Standard Deviation/√n), Mean + (2*Standard Deviation/√n))
98% Confidence Interval = ($775 - (2*$110/√45), $775 + (2*$110/√45))
98% Confidence Interval = ($735.56, $814.44)
a battery company makes 12-volt car batteries. after many years of product testing, the company knows that the average life of its battery is normally distributed, with a mean of 44 months and a standard deviation of 7 months. a button hyperlink to the salt program that reads: use salt. (a) if the company guarantees a full refund on any battery that fails within the 36-month period after purchase, what percentage of its batteries will the company expect to replace? (round your answer to two decimal places.) % (b) if the company does not want to make refunds for more than 9% of its batteries under the full-refund guarantee policy, for how long should the company guarantee the batteries (to the nearest month)?
a) The percentage of batteries the company expects to replace is:
0.1271 * 100% = 12.71%
b) The company should guarantee the batteries for 34 months (rounded to the nearest month) to ensure that refunds are not made for more than 9% of its batteries under the full-refund guarantee policy.
Step by step explain about both part of the question?(a) Let X be the random variable representing the life of a battery. We want to find the probability that a battery fails within 36 months after purchase, which is equivalent to finding P(X ≤ 36).
Using the normal distribution formula with mean μ = 44 months and standard deviation σ = 7 months, we have:
Z = (X - μ) / σ = (36 - 44) / 7 = -1.14
Using a standard normal table or calculator, we find that the probability of a standard normal variable being less than or equal to -1.14 is 0.1271. Therefore, the percentage of batteries the company expects to replace is:
0.1271 * 100% = 12.71% (rounded to two decimal places)
(b) Let Y be the random variable representing the length of the guarantee period in months. We want to find the value of Y such that P(X ≤ Y) = 0.09, where X has the same normal distribution with mean μ = 44 months and standard deviation σ = 7 months.
Using the inverse normal distribution formula with mean μ = 44 months and standard deviation σ = 7 months, we have:
Z = invNorm(0.09) = -1.34
where invNorm is the inverse normal function. Solving for Y, we have:
(Y - μ) / σ = Z
(Y - 44) / 7 = -1.34
Y - 44 = -1.34 * 7
Y ≈ 34.42
Therefore, the company should guarantee the batteries for 34 months (rounded to the nearest month) to ensure that refunds are not made for more than 9% of its batteries under the full-refund guarantee policy.
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There are 11 balls numbered 1 through 11 placed in a bucket. What is the probability of reaching into the bucket and randomly drawing three balls numbered 4, 9, and 7 without replacement, in that order? Express your answer as a fraction in lowest terms or a decimal rounded to the nearest millionth
The probability of reaching into the bucket and randomly drawing three balls numbered 4, 9, and 7 without replacement, in that order, is 1/990, which is a decimal rounded to the nearest millionth is 0.001.
The probability of drawing three balls numbered 4, 9, and 7 without replacement, in that order, can be found by multiplying the probabilities of drawing each ball in the correct order.
The probability of drawing the first ball, numbered 4, is 1/11, since there is only one ball numbered 4 out of 11 balls in the bucket.
After the first ball is drawn, there are 10 balls remaining in the bucket, and the probability of drawing the second ball, numbered 9, is 1/10, since there is only one ball numbered 9 remaining out of the 10 balls in the bucket.
After the first two balls are drawn, there are 9 balls remaining in the bucket, and the probability of drawing the third ball, numbered 7, is 1/9, since there is only one ball numbered 7 remaining out of the 9 balls in the bucket.
Therefore, the probability of drawing the balls numbered 4, 9, and 7 without replacement, in that order, is:
(1/11) * (1/10) * (1/9) = 1/990
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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?--