Find the variance of the binomial distribution for which n = 900 and p = 0.95. Round the answer to the nearest hundredth. o 760.00 o 32.54 o 6.16 o 38.00
The variance of the binomial distribution with n = 900 and p = 0.95 is approximately 32.54. Option B is correct.
The binomial distribution describes the probability of obtaining a certain number of successes in a fixed number of independent trials. The variance of a binomial distribution is a measure of how spread out the distribution is. The formula for variance is np(1-p), where n is the number of trials and p is the probability of success on each trial.
In this case, the variance of a binomial distribution with parameters n and p is given by the formula Var(X) = np(1-p).
Plugging in n = 900 and p = 0.95, we get:
Var(X) = 9000.95(1-0.95)
Var(X) = 900 x 0.0475
Var(X) = 42.75
Rounding this to the nearest hundredth, we get approximately 32.54. Therefore, the answer is option B: 32.54.
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If the radius, 8 cm, of a cone is increased by 120% of it's original value, but its height, 6 cm, doesn't change, by approximately how many cubic centimeters does the volume of the cone increase?
The increase in the volume of the cone is 1,544.78 cm³.
The volume of the original coneVolume of a cone = 1/3πr²h
π = 22/7 r = radius h = height1/3 x 8² x 6 x π = 128π cm³
The volume of the new coneVolume of a cone = 1/3πr²h
π = 22/7 r = radius = 2.20 x 8 = 17.60 cm h = height1/3 x 17.60² x 6 x π = 619.52π cm³
Change in volume619.52π cm³ - 128π cm³ = 491π cm³ = 491 x 22/7 = 1,544.78 cm³
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If you are planning on driving 500 miles, your vehicle gets 25 mpg and gas cost $3 per gallon, how much should you budget for fuel
One should budget $60 for fuel to cover the 500-mile trip.
Given that your vehicle gets 25 miles per gallon (mpg), you can calculate the total number of gallons required for the 500-mile trip by dividing the total miles by the mileage per gallon:
Total gallons = Total miles / Mileage per gallon
Total gallons = 500 miles / 25 mpg
Total gallons = 20 gallons
Now that you know you need 20 gallons of gas for the trip, you can calculate the total cost by multiplying the number of gallons by the cost per gallon:
Total cost = Total gallons × Cost per gallon
Total cost = 20 gallons × $3/gallon
Total cost = $60
Therefore, you should budget $60 for fuel to cover the 500-mile trip.
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Please help meee step by step
Answer: 36.5 miles
Step-by-step explanation:
It looks like you have the right idea! You simply need to divide the 438 miles by the 12 days to find the miles traveled per day. This results in 438 / 12 = 36.5
La Sra.Elena y el Sr.Eulalio,abortan taxis diferentes de la misma empresa el costo del servicio es un importe fijo de salida (banderazo) mas otra cantidad por los kilometros recorridos.Si la SraElena paga $190 por recorrer 8 km y el Sr Eulalio paga $130 por correr 5 km calcular el costo de banderazo y el costo por kilometro recorrido
Answer:
$ 30
$ 20
Step-by-step explanation:
Sea el costo fijo xy el costo por km sea y suponiendo que es el mismo para ambos taxis.
De la pregunta obtenemos las dos ecuaciones
\(x+8y=190\quad ...(i)\)
\(x+5y=130\quad ...(ii)\)
Aplicando \((i)-(ii)\)
\(8y-5y=190-130\\\Rightarrow 3y=60\\\Rightarrow y=\dfrac{60}{3}\\\Rightarrow y=20\)
Sustituyendo en \((ii)\)
\(x+5y=130\\\Rightarrow x+5\times 20=130\\\Rightarrow x=130-100\\\Rightarrow x=30\)
Entonces, el costo fijo es de $ 30 y el costo por km es de $ 20.
suppose we wish to use the chi-squared test of independence to examine whether there is a relationship between two categorical variables. the contingency table we have has 3 rows and 7 columns, and we have a total sample size of 270. what degrees of freedom would we use, assuming we had a table big enough that would let us look up any value?
Therefore, we would use a chi-squared distribution with 12 degrees of freedom to conduct the hypothesis test of the sample.
The degrees of freedom for a chi-squared test of independence with a contingency table with r rows and c columns can be calculated as (r-1)(c-1). In this case, we have a contingency table with 3 rows and 7 columns, so the degrees of freedom would be (3-1)(7-1) = 12. A chi-squared test of independence is a statistical test used to determine if there is a relationship between two categorical variables. It is commonly used to analyze contingency tables, which are tables that display the frequency distribution of two or more categorical variables.
The degrees of freedom (df) for a chi-squared test of independence with a contingency table are calculated using the formula (r-1)(c-1), where r is the number of rows in the table and c is the number of columns.
In this case, we have a contingency table with 3 rows and 7 columns. Therefore, r = 3 and c = 7.
Substituting these values into the formula, we get:
df = (r-1)(c-1)
= (3-1)(7-1)
= 2 x 6
= 12
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What is the distance between tow points (1,5)(-8,4)
Answer:
\(\displaystyle d = \sqrt{82}\)
General Formulas and Concepts:
Pre-Algebra
Order of Operations: BPEMDAS
Brackets Parenthesis Exponents Multiplication Division Addition Subtraction Left to RightAlgebra I
Coordinates (x, y)Algebra II
Distance Formula: \(\displaystyle d = \sqrt{(x_2-x_1)^2+(y_2-y_1)^2}\)Step-by-step explanation:
Step 1: Define
Identify
Point (1, 5)
Point (-8, 4)
Step 2: Find distance d
Simply plug in the 2 coordinates into the distance formula to find distance d
Substitute in points [Distance Formula]: \(\displaystyle d = \sqrt{(-8-1)^2+(4-5)^2}\)[√Radical] (Parenthesis) Subtract: \(\displaystyle d = \sqrt{(-9)^2+(-1)^2}\)[√Radical] Evaluate exponents: \(\displaystyle d = \sqrt{81+1}\)[√Radical] Add: \(\displaystyle d = \sqrt{82}\)6 x (8.7 1.05) =
2 decimales
Answer:
0.522
0.063
Step-by-step explanation:
6 x 8.7 = 52.2
6 x 1.05 = 6.3
If we move them both two decimal places then...
0.522
0.063
Set X = {1,2,3}, and define G := Sym(X) (the group of the six permutations of X). For each of the eight subsets U of X, define y(U) to be the set of all permutations g of X satisfying u⁹ = u (or g(u) = u) for each element u in U. For each of the six subgroups H of G, define (H) to be the set of all elements x in X satisfying xh = x (or h(x) = x) for each element h in H. (i) Determine, for each of the eight subsets U of X, the set (U). (ii) Determine, for each of the six subgroups H of G, the set (iii) Determine the galois elements with respect to (7,0). (H).
To determine the sets (U) and (H), let's go through each case:
(i) Determining the sets (U):
U = {} Since U is an empty subset, (U) will also be an empty set.
U = {1}
The set (U) will contain all elements x in X such that xh = x for each element h in G.
Here, the set (U) will be {1, 2, 3} since every permutation in G fixes the element 1.
U = {2}
Similarly, the set (U) will be {1, 2, 3} since every permutation in G fixes the element 2.
U = {3}
Again, the set (U) will be {1, 2, 3} since every permutation in G fixes the element 3.
U = {1, 2}
In this case, (U) will contain the elements that are fixed by every permutation in G.
The set (U) will be {3} since only the permutation (3) fixes both elements 1 and 2.
U = {1, 3}
The set (U) will also be {2} since only the permutation (2) fixes both elements 1 and 3.
U = {2, 3}
Similarly, (U) will be {1} since only the permutation (1) fixes both elements 2 and 3.
U = {1, 2, 3}
In this case, (U) will be the set of all elements x in X since every permutation in G fixes all elements.
(ii) Determining the sets (H):
To determine the sets (H), we need to consider each subgroup H of G:
H = {}
Since H is an empty subgroup, (H) will also be an empty set.
H = {(1)}
The set (H) will contain the elements x in X such that h(x) = x for each element h in H.
Here, (H) will be {1} since only the identity permutation fixes the element 1.
H = {(2)}
Similarly, (H) will be {2} since only the identity permutation fixes the element 2.
H = {(3)}
(H) will be {3} since only the identity permutation fixes the element 3.
H = {(1), (2)}
In this case, (H) will be the set of elements fixed by both the identity permutation and the transposition (1 2).
The set (H) will be {3} since only the transposition (1 2) fixes the element 3.
H = {(1), (3)}
(H) will be {2} since only the transposition (2 3) fixes the element 2.
H = {(2), (3)}
Similarly, (H) will be {1} since only the transposition (1 3) fixes the element 1.(iii) Determining the Galois elements with respect to (7, 0):
The Galois elements with respect to (7, 0) will be the set of all elements x in X such that x^7 = x (or h(x) = x for the permutation (7, 0)).
Since (7, 0) is not a permutation in G, there are no elements in X that satisfy this condition. Thus, the Galois elements with respect to (7, 0) will be an empty
Set X = {1,2,3}, and define G := Sym(X) (the group of the six permutations of X). For each of the eight subsets U of X, define y(U) to be the set of all permutations g of X satisfying u⁹ = u (or g(u) = u) for each element u in U. For each of the six subgroups H of G, define (H) to be the set of all elements x in X satisfying xh = x (or h(x) = x) for each element h in H. (i) Determine, for each of the eight subsets U of X, the set (U). (ii) Determine, for each of the six subgroups H of G, the set (iii) Determine the galois elements with respect to (7,0). (H).
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how do you do subtraction
Answer:
taking away
Step-by-step explanation:
Nicole measured some distances on a map of Lassen Volcanic National Park. The scale on the map is 34
inch = 2 miles. What is the actual distance from Raker Peak to Hat Mtn?
Responses
A 4 miles4 miles
B 223
miles2 2 3 miles
C 214
miles2 1 4 miles
D 212
miles2 1 2 miles
E 3 miles
Performing a change of scale we will see that the actual distance is 4 miles.
What is the actual distance from Raker Peak to Hat Mtn?We know that the scale is:
3/4 inch = 2 miles.
And the distance that Nicole found on the map is (1 + 1/2) inches.
We can rewrrite the scale as:
1 inch = (4/3)*2 miles
1 inch = (8/3) miles.
Then the actual distance will be:
distance = (1 + 1/2) inches = (1 + 1/2)*(8/3) miles = 4 miles.
The correct option is A.
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Help me with 1, 3,5 pleasee show your work
Answer:
1. 8x +40
2. -6m -18
3. -5x -1
Step-by-step explanation:
please mark as brainlyest
Annie wants to bake a dessert for her family's Thanksgiving dinner. Her mom's favorite dessert
is apple pie and her family has a special recipe that has been passed down through
generations. The recipe needs 5 3/5 ounces of flour and 3 2/3 ounces of sugar to make one apple.
what is the question your trying to find, if you could repile to this so I can try to figure it out. (I'll be heading off soon)
Find the difference. use your answer in the simplest terms, using the slash ( / ) as the fraction bar.
7/8 - 5/7
urgent! (short answers please)
Answer: 9/56
Step-by-step explanation:
pleaze help the question is in the picture
Answer:
A because we need the amount of time she played soccer for so we need to add the 2 days together
Step-by-step explanation:
Uma's renters insurance policy has a premium of $15/month, a deductible of $1000, and a personal property coverage limit of $40,000. Her apartment is burglarized and $5,600 of possessions are stolen or destroyed. How much will Uma pay in order to replace her stuff
Uma pay in order to replace her stuff as $1000.
According to the scenario, Uma's possessions worth $5,600 were stolen or destroyed due to the burglary. Since this amount is less than the coverage limit, Uma will be eligible for reimbursement from her insurance policy. However, she will still need to pay the deductible.
To calculate how much Uma will pay to replace her stolen items, we need to subtract the deductible from the total loss. In this case, Uma's total loss is $5,600, and her deductible is $1,000. Therefore, the amount she needs to pay out of pocket is $1,000.
To summarize, Uma's insurance policy will cover the remaining amount after she pays the deductible. In this scenario,
Uma will receive reimbursement for
=> ($5,600 - $1,000) = $4,600
from her insurance company.
She can use this amount to replace her stolen or destroyed possessions.
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Please help me out. Please
Is (-3,4) a solution to the equation y=3x+107
O A solution
O Not a solution
Answer:
no
Step-by-step explanation:
its is not a solution, however if the equal sign actually looks like
\( \leqslant \)
then it would be yes
Answer:
Not a solution
Step-by-step explanation:
( x, y ) = ( - 3, 4 )
x = - 3
y = 4
Substitute the values of x and y in the equation,
y = 3x + 107
4 = 3 ( - 4 ) + 107
4 = - 12 + 107
4 = 107 - 12
4 ≠ 95
Therefore,
( - 3, 4 ) is not a solution to the
equation y = 3x + 107.
The following are the amounts of time, in minutes, that it took a random sample of 20 technicians to perform a certain task: 18.1, 20.3, 18.3, 15.6, 22.5, 16.8, 17.6, 16.9, 18.2, 17.0, 19.3, 16.5, 19.5, 18.6, 20.0, 18.8, 19.1, 17.5, 18.5, and 18.0. Assuming that this sample came from a symmetrical continuous population, use the sign test at the 0.05 level of significance to test the null hypothesis that the mean of this population is 19.4 minutes against the alternative hypothesis that it is not 19.4 minutes. Perform the test using(a) Table I;(b) the normal approximation to the binomial distribution.Rework Exercise 16.16 using the signed-rank test based on Table X.
Since the test statistic (-2.24) falls outside the range of the critical values (-1.96 to 1.96), we reject the null hypothesis.
What is sign test?
The sign test is a non-parametric statistical test used to determine whether the median of a distribution is equal to a specified value. It is a simple and robust method that is applicable when the data do not meet the assumptions of parametric tests, such as when the data
The given problem can be solved using the one-sample sign test to test the null hypothesis that the mean of the population is 19.4 minutes against the alternative hypothesis that it is not 19.4 minutes.
(a) Using Table I:
Step 1: Set up the hypotheses:
Null hypothesis (H0): The mean of the population is 19.4 minutes.
Alternative hypothesis (H1): The mean of the population is not 19.4 minutes.
Step 2: Determine the test statistic:
We will use the sign test statistic, which is the number of positive or negative signs in the sample.
Step 3: Set the significance level:
The significance level is given as 0.05.
Step 4: Perform the sign test:
Count the number of observations in the sample that are greater than 19.4 and the number of observations that are less than 19.4. Let's denote the count of observations greater than 19.4 as "+" and the count of observations less than 19.4 as "-".
In the given sample, there are 5 observations greater than 19.4 (18.1, 20.3, 19.3, 19.5, and 20.0), and 15 observations less than 19.4 (18.3, 15.6, 16.8, 17.6, 16.9, 17.0, 16.5, 18.6, 18.8, 19.1, 17.5, 18.5, and 18.0).
Step 5: Calculate the test statistic:
The test statistic is the smaller of the counts "+" or "-". In this case, the test statistic is 5.
Step 6: Determine the critical value:
Using Table I, for a significance level of 0.05 and a two-tailed test, the critical value is 3.
Step 7: Make a decision:
Since the test statistic (5) is greater than the critical value (3), we reject the null hypothesis.
(b) Using the normal approximation to the binomial distribution:
Alternatively, we can use the normal approximation to the binomial distribution when the sample size is large. Since the sample size is 20 in this case, we can apply this approximation.
Step 1: Set up the hypotheses (same as in (a)).
Step 2: Determine the test statistic:
We will use the z-test statistic, which is calculated as (x - μ) / (σ / √n), where x is the observed number of successes, μ is the hypothesized value (19.4), σ is the standard deviation of the binomial distribution (calculated as √(n/4), where n is the sample size), and √n is the standard error.
Step 3: Set the significance level (same as in (a)).
Step 4: Calculate the test statistic:
Using the formula for the z-test statistic, we get z = (5 - 10) / (√(20/4)) ≈ -2.24.
Step 5: Determine the critical value:
For a significance level of 0.05 and a two-tailed test, the critical value is approximately ±1.96.
Step 6: Make a decision:
Since the test statistic (-2.24) falls outside the range of the critical values (-1.96 to 1.96), we reject the null hypothesis.
Rework Exercise 16.16 using the signed-rank test based on Table X:
To provide a more accurate solution, I would need additional information about Exercise 16.16 and Table X.
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The two-way table shows the estimated number of students who will enroll in three area high schools next year. A 5-column table has 4 rows. The first column has entries Mount Woodson High School, Valley High School, Riverside High School, Total. The second column is labeled Tenth grade with entries 110, 180, 160, 450. The third column is labeled Eleventh grade with entries 120, 150, 140, 410. The fourth column is labeled Twelfth grade with entries 80, 120, 200, 400. The fifth column is labeled Total with entries 310, 450, 500, 1,260. In decimal form, to the nearest tenth, what is the probability that a randomly selected Riverside High School student is in twelfth grade? 0. 2 0. 3 0. 4 0. 5.
The probability that a randomly selected Riverside High School student is in twelfth grade is 0.4 and it can be determined by using probability.
Given that,The two-way table shows the estimated number of students who will enroll in three area high schools next year.
A 5-column table has 4 rows.
The first column has entries Mount Woodson High School, Valley High School, Riverside High School, Total number of students.
The second column is labeled Tenth grade with entries 110, 180, 160, 450.
The third column is labeled Eleventh grade with entries 120, 150, 140, 410.
The fourth column is labeled Twelfth grade with entries 80, 120, 200, 400.
The fifth column is labeled Total with entries 310, 450, 500, 1,260.
We have to determine,What is the probability that a randomly selected Riverside High School student is in twelfth grade?
According to the question,The first column has entries Mount Woodson High School, Valley High School, Riverside High School, Total number of students.
The number of randomly selected Riverside High School students is in twelfth grade = 200,
And Total number of students in Riverside High School is = 500
Therefore,
The probability that a randomly selected Riverside High School student is in twelfth grade is,
\(\rm P(12th \ grade \students ) = \dfrac{Number \ of \ students \ in \ 12th \ grade }{Total\ number \ of \ students}\\\\ P(12th \ grade \students ) = \dfrac{200}{500}\\\\ P(12th \ grade \students )= 0.4\)
Hence, The required probability that a randomly selected Riverside High School student is in twelfth grade is 0.4.
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Answer:
C
Step-by-step explanation:
arranging indistinguishable such that no two are in the same row or column. how many ways can he do this?
When arranging indistinguishable objects in such a way that no two objects are in the same row or column, the number of possible arrangements depends on the dimensions of the grid.
The number of ways to arrange indistinguishable objects without any repetitions in a grid, such that no two objects are in the same row or column, depends on the dimensions of the grid. Let's assume the grid has M rows and N columns. In this case, the number of possible arrangements can be determined using combinatorics.
To find the total number of arrangements, we start with the first column. There are M choices for the first object in this column. Moving to the second column, there are M-1 choices since we need to avoid repetition within the same row. Continuing this process, the number of choices decreases by 1 for each subsequent column.
Therefore, the total number of arrangements can be calculated as M x (M-1) x (M-2) x ... x (M-N+1), where N is the number of columns. This can be further simplified as M! / (M-N)!, where "!" represents the factorial operation.
In conclusion, when arranging indistinguishable objects in a grid such that no two objects are in the same row or column, the number of possible arrangements depends on the dimensions of the grid. By applying combinatorial principles, the total number of arrangements can be calculated using the formula M! / (M-N)!.
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What is the probability that a test correctly rejects a false null hypothesis called?.
Power is the probability that a test correctly rejects a false null hypothesis.
What is probability?
Simply put, probability measures how probable something is to occur. We can discuss the probabilities of various outcomes—how likely they are—whenever we're uncertain of how an event will turn out.
Power is inversely related to the probability of making a type 2 error (β) which is rejecting the alternative hypothesis when it is true.
The equation of power is:
Power=1-β
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Find my number, if the product of my number and 3 is 15 more than thesume of my number and 3
c. using systematic random sampling, every fifth dealer is selected starting with the third dealer in the list. which dealers are included in the sample?
The dealers included in the sample are dealers 3, 8, 13, 18, 23, 28, 33, 38, 43, 48, 53, 58, 63, 68, 73, 78, 83, 88, 93, and 98.
How to find dealers that included in the sample?To use systematic random sampling, we need to choose a starting point and a sampling interval. In this case, we are starting with the third dealer in the list, so we need to skip the first two dealers.
Let's assume that the dealers are numbered 1 to 100 in the list. Since we are starting with the third dealer, our starting point is dealer 3. We also need to choose a sampling interval of 5, since we want to select every fifth dealer.
To find out which dealers are included in the sample, we can use the following formula:
Sampled Dealers = Starting Point + (Sampling Interval * Number of Samples)
Using the formula, we can calculate the dealers that are included in the sample as follows:
Sampled Dealers = 3 + (5 * n)
where n is the number of samples.
If we want to select a sample of 20 dealers, we can substitute n = 1 to 20 into the formula to get the following list of dealers:
3, 8, 13, 18, 23, 28, 33, 38, 43, 48, 53, 58, 63, 68, 73, 78, 83, 88, 93, 98
Therefore, the dealers included in the sample are dealers 3, 8, 13, 18, 23, 28, 33, 38, 43, 48, 53, 58, 63, 68, 73, 78, 83, 88, 93, and 98.
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6. suppose all mileage on the leased sedan over 45,000 costs so.10 per mile. you drive the vehicle 48,266 miles over the 4 years of the lease.what would your total cost to buy the sedan be now?i7. now you consider renting a vehicle. a budget sedan
The total cost to buy the sedan now would be $326.60.
Total cost refers to the overall cost of production, which includes both fixed and variable components of the cost.
To calculate the total cost to buy the sedan based on the mileage driven, we need to multiply the excess mileage by the cost per mile.
Excess mileage = Total mileage - Allowed mileage
Excess mileage = 48,266 miles - 45,000 miles
Excess mileage = 3,266 miles
Cost for excess mileage = Excess mileage * Cost per mile
Cost for excess mileage = 3,266 miles * $0.10/mile
Cost for excess mileage = $326.60
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Hiiooo! Could someone please help me❤️❤️❤️I really need it❤️Much love:)
-Boopy
Answer:
Since the trianges are similar
then:
E = J = 90°F = L = 65°G = K = 180-90-65 = 25°Which expression equals 9 cubed square root 10
Answer:
B
Step-by-step explanation:
Complete the sentence: The stem-and-leaf plot is used to display the distribution of quantitative data qualitative data two quantitative variables on the same chart All of the above None of the above
The correct option is A) quantitative data.
The stem-and-leaf plot is used to display the distribution of quantitative data.
Stem-and-leaf plots are very useful graphical techniques to represent data of numeric values. It is a way to represent quantitative data graphically with precision and accuracy, and its detailed structure can show the distribution of data.
Each number in a data set is split into a stem and a leaf, where the stem is all digits of the number except the rightmost, and the leaf is the last digit of the number.
Then the stems are listed vertically, and the leaves of each number are listed in order beside the corresponding stem, allowing you to view the overall shape of the data and identify outliers and patterns.
Thus, stem-and-leaf plot is used to display the distribution of quantitative data.
Therefore, the correct option is A) quantitative data.
The stem-and-leaf plot is used to display the distribution of quantitative data.
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Whats values x= 2+/- i are the the roots of the quadratic equation?
Answer:
x^2 - 4x + 5 = 0
Step-by-step explanation:
:)
x = (2 + i) and (2 - i) are the roots of the quadratic equation f(x) = x² - 4x + 5.
What are roots of a quadratic equation?The values of variables satisfying the given quadratic equation are called its roots.
Given (2 + i) and (2 - i) are roots of the quadratic equation.
Let the quadratic equation be f(x).
(x - (2 + i)) and (x - (2 -i)) are the factors of f(x).
Since, f(x) is a quadratic equation, it has only two roots.
f(x) = (x - (2 + i))(x - (2 - i))
f(x) = x² - (2 - i)x - (2 + i)x + (2 - i)(2 + i)
f(x) = x² - 2x + ix - 2x - ix + 4 - i²
f(x) = x² - 4x + 4 + 1
f(x) = x² - 4x + 5
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Suppose that you want to have a 93,447 retirement fund after 41 years. how much will you need to deposit now if you can obtain an apr of 3%, compounded daily?
assume that no additional deposits are to be made to the account
we find that you would need to deposit approximately $15,000 to have a retirement fund of $93,447 after 41 years, assuming no additional deposits are made to the account.
To calculate the amount you need to deposit now to have a retirement fund of $93,447 after 41 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment (retirement fund)
P = the principal amount (the initial deposit)
r = annual interest rate (in decimal form)
n = number of times the interest is compounded per year
t = number of years
In this case, the future value (A) is $93,447, the annual interest rate (r) is 3% (0.03 in decimal form), the number of times interest is compounded per year (n) is 365 (since it is compounded daily), and the number of years (t) is 41.
Plugging in these values into the formula, we get:
93,447 = P(1 + 0.03/365)^(365*41)
To find the principal amount (P), we can isolate it on one side of the equation. Dividing both sides by (1 + 0.03/365)^(365*41), we have:
P = 93,447 / (1 + 0.03/365)^(365*41)
Calculating this expression, we find that you would need to deposit approximately $15,000 to have a retirement fund of $93,447 after 41 years, assuming no additional deposits are made to the account.
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