Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is normally distributed with a mean of 27 dollars and a standard deviation of 9 dollars.
A. What proportion of the bank's Visa cardholders pay more than 29 dollars in interest?
B. What proportion of the bank's Visa cardholders pay more than 35 dollars in interest?
C. What proportion of the bank's Visa cardholders pay less than 14 dollars in interest?
D. What interest payment is exceeded by only 18% of the bank's Visa cardholders?

Answers

Answer 1

Answer:

a. 0.4129 = 41.29% of the bank's Visa cardholders pay more than 29 dollars in interest.

b. 0.1867 = 18.67% of the bank's Visa cardholders pay more than 35 dollars in interest.

c. 0.0742 = 7.42% of the bank's Visa cardholders pay less than 14 dollars in interest.

d. An interest payment of $35.2 is exceeded by only 18% of the bank's Visa cardholders.

Step-by-step explanation:

Normal Probability Distribution

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Mean of 27 dollars and a standard deviation of 9 dollars.

This means that [tex]\mu = 27, \sigma = 9[/tex]

A. What proportion of the bank's Visa cardholders pay more than 29 dollars in interest?

This is 1 subtracted by the p-value of Z when X = 29, so:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{29 - 27}{9}[/tex]

[tex]Z = 0.22[/tex]

[tex]Z = 0.22[/tex] has a p-value of 0.5871.

1 - 0.5871 = 0.4129

0.4129 = 41.29% of the bank's Visa cardholders pay more than 29 dollars in interest.

B. What proportion of the bank's Visa cardholders pay more than 35 dollars in interest?

This is 1 subtracted by the p-value of Z when X = 35, so:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{35 - 27}{9}[/tex]

[tex]Z = 0.89[/tex]

[tex]Z = 0.89[/tex] has a p-value of 0.8133.

1 - 0.8133 = 0.1867

0.1867 = 18.67% of the bank's Visa cardholders pay more than 35 dollars in interest.

C. What proportion of the bank's Visa cardholders pay less than 14 dollars in interest?

This is the p-value of Z when X = 14. So

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{14 - 27}{9}[/tex]

[tex]Z = -1.445[/tex]

[tex]Z = -1.445[/tex] has a p-value of 0.0742.

0.0742 = 7.42% of the bank's Visa cardholders pay less than 14 dollars in interest.

D. What interest payment is exceeded by only 18% of the bank's Visa cardholders?

This is the 100 - 18 = 82nd percentile, which is X when Z has a p-value of 0.82, so X when Z = 0.915.

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]0.915 = \frac{X - 27}{9}[/tex]

[tex]X - 27 = 0.915*9[/tex]

[tex]X = 35.2[/tex]

An interest payment of $35.2 is exceeded by only 18% of the bank's Visa cardholders.


Related Questions

find two ordered pairs for x-4y=2

Answers

Answer:

x-4y=2 can be written as y=(x-2)/4

(2,0) when x=2, y=0 and (6,1) when x=6, y=1

what is 127/14 simplified?

Answers

It’s would be 9 1/4

Answer:

9 1/14

Step-by-step explanation:

127 ÷14

127 divided by 14 equals

9 with a remainder of 1

how to work this fraction 4/11+5/22+3/44

Answers

Answer:

29/44

Step-by-step explanation:

[tex]\frac{4}{11} +\frac{5}{22} +\frac{3}{44} =\\[/tex]

-find the common denominator

[tex]\frac{4*4}{4*11} + \frac{2*5}{2*22} +\frac{3}{44} =[/tex]

[tex]\frac{16}{44} +\frac{10}{44} +\frac{3}{44} =[/tex]

-add the fractions and solve

[tex]\frac{16+10+3}{44} =[/tex]

[tex]\frac{29}{44}[/tex]

In a survey of 938 U.S. adults, 235 say the phrase "you know" is the most annoying conversational phrase. Let p be the proportion of the population who respond yes. Use the given information to Construct a 90% confidence interval for p.

Answers

Answer:

CI 90% = ( 0.227 ; 0.273)

Step-by-step explanation:

Information from the survey:

sample size   n = 938

number of people with yes answer  x = 235

proportion of people  p = 235/938

p = 0.25    then  q = 1 - 0.25    q = 0.75

Confidence Interval 90 % .

CI 90% = ( p ± SE )

CI 90% = ( p ± z(c)*√(p*q)/n)

CI 90 %   then significance level is  α = 10 %   α/2 = 5%

α/2 = 0.05  we find in z-table z (c) = 1.64

√(p*q)/n  = √0.25*0.75/938

√(p*q)/n  = √0.000199

√(p*q)/n  = 0.014

CI 90% = ( p ± z(c)*√(p*q)/n)

CI 90% = ( 0.25 ± 1.64*0.014)

CI 90% = ( 0.25 ± 0.023 )

CI 90% = ( 0.227 ; 0.273)

PLEASE HELPPPPPPPPPPPPPP

Answers

Answer:

False

Step-by-step explanation:

To find the inverse of a function, switch the variables and solve for y.

The inverse of f(n)=-(n+1)^3:

[tex]y=-(n+1)^3[/tex]

[tex]n=-(y+1)^3[/tex]

[tex]\sqrt[3]{n} =-(y+1)[/tex]

[tex]\sqrt[3]{n} =-y-1[/tex]

[tex]\sqrt[3]{n} +1=-y[/tex][tex]-(\sqrt[3]{n} +1)=y[/tex]

[tex]-\sqrt[3]{n} -1=y[/tex]

Answer:

False

Step-by-step explanation:

The critical value of F for an upper tail test at a 0.05 significance level when there is a sample size of 21 for the sample with the smaller variance and there is a sample size of 9 for the sample with the larger sample variance is _____. a. 2.94 b. 2.45 c. 2.10 d. 2.37

Answers

Answer:

2.45

Step-by-step explanation:

Given that :

α = 0.05

Larger sample variance= numerator, sample size = 9

Smaller sample variance = denominator, sample size = 21

Hence,

DFnumerator = n - 1 = 9 - 1 = 8

DFdenominator = n - 1 = 21 - 1 = 20

Critical value for upper tail test using the F distribution table at α = 0.05 ; DFnumerator on horizontal ; Df denominator as vertical ;

F critical = 2.447

F critical = 2.45

20 students were asked “How many pets do you have in your household?” and the following data was collected:
2 1 0 3 1 2 1 3 4 0
0 2 2 0 1 1 0 1 0 1
Select the type of the data ?
CHOOSE ONE PLEASE HELP

Discrete

Continuous

Categorical

Qualitative

Answers

Answer:

Discrete

Discrete data represent items that can be counted; they take on possible values that can be listed out. The list of possible values may be fixed (also called finite); or it may go from 0, 1, 2, on to infinity (making it countably infinite).

Working at home: According to the U.S Census Bureau, 41% of men who worked at home were college graduates. In a sample of 506 women who worked at home, 166 were college graduates. Part: 0 / 30 of 3 Parts Complete Part 1 of 3 (a) Find a point estimate for the proportion of college graduates among women who work at home. Round the answer to at least three decimal places. The point estimate for the proportion of college graduates among women who work at home is .

Answers

Solution :

a). The point estimate of proportion of college graduates among women who work at home,

[tex]$\hat p =\frac{166}{506}$[/tex]

  = 0.3281

99.5% confidence interval

[tex]$=\left( \hat p \pm Z_{0.005/2} \sqrt{\frac{\hat p (1- \hat p)}{n}} \right)$[/tex]

[tex]$=\left( 0.3281 \pm 2.81 \sqrt{\frac{0.3281 \times (1- 0.3281)}{506}} \right)$[/tex]

[tex]$=(0.3281 \pm 0.0586)$[/tex]

[tex]$=(0.2695, 0.3867)$[/tex]

if 2x + 1=7 what is the value of x​

Answers

Answer:

x=3

Step-by-step explanation:

2x+1=7

2x=7-1

2x=6

x=6/2

x=3

Answer:

Solution,

2x + 1=7

or 2x = 7 - 1

or, 2x= 6

or, x = 6

2

or, x = 3

.:. x = 3

Team A scored 30 points less than four times the number of points that Team B scored. Team C scored 61 points more than half of the number of points that Team B scored. If Team A and Team C shared in the victory, having earned the same number of points, how many more points did each team have than Team B?

Answers

Answer:

team a and team c scored 74 points which is 48 points more than team b, scoring 26 points.

Step-by-step explanation:

The sample size needed to estimate the difference between two population proportions to within a margin of error E with a significance level of ? can be found as follows. In the expression
E=z?p1(1?p1)n1+p2(1?p2)n2?????????????????????????
we replace both n1 and n2 by n (assuming that both samples have the same size) and replace each of p1, and p2, by 0.5 (because their values are not known). Then we solve for n, and get
n=(z?)22E2.
Finally, increase the value of n to the next larger integer number.
Use the above formula and Table C to find the size of each sample needed to estimate the difference between the proportions of boys and girls under 10 years old who are afraid of spiders. Assume that we want a 99% confidence level and that the error is smaller than 0.07.
n=______.

Answers

Answer:

n= (z)22E2

n=10× 99%÷ 0.07

Pam’s eye-level height is 324 ft above sea level, and Adam’s eye-level height is 400 ft above sea level. How much farther can Adam see to the horizon? Use the formula d = StartRoot StartFraction 3 h Over 2 EndFraction EndRoot, with d being the distance they can see in miles and h being their eye-level height in feet.
1 mi
StartRoot 6 EndRoot mi
19 mi
19 StartRoot 6 EndRoot mi

Answers

9514 1404 393

Answer:

  (b)  √6 mi

Step-by-step explanation:

Putting the given heights into the formula, we find the difference in distances to be ...

  Adam' horizon distance = √((3/2)(400)) = 10√6 . . . miles

  Pam's horizon distance = √((3/2)(324)) = 9√6 . . . . miles

Then the difference Adam can see is farther than the distance Pam can see by ...

  10√6 -9√6 = √6 . . . miles

Consider a political discussion group consisting of 6 ​Democrats, 6 ​Republicans, and 4 Independents. Suppose that two group members are randomly​ selected, in​ succession, to attend a political convention. Find the probability of selecting an Independent and then a Republican.

___.
(Type an integer or a simplified​ fraction.)

Answers

Answer:

10/16=5/8

6+6+4=16

The probability is 5/8

find the value of the trigonometric ratio​

Answers

Answer:

15/17

Step-by-step explanation:

sinA = CB/CA =15/17

Answer:

15/17

Step-by-step explanation:

sine = opposite / hypotenusesin A = BC/ACsin A = 15/17

Which of the following statements correctly explains the meaning of the term "95% confidence" in the confidence statement? The interval 52% to 58% is based on a procedure that includes a sample representing 95% of population. The interval 52% to 58% is based on a procedure that includes the true population value 95% of the time. The interval 52% to 58% is based on a procedure that produces a margin of error (of ±3) 95% of the time.

Answers

Answer:

The interval 52% to 58% is based on a procedure that includes the true population value 95% of the time.

Step-by-step explanation:

x% confidence interval:

A confidence interval is built from a sample, has bounds a and b, and has a confidence level of x%. It means that we are x% confident that the population mean is between a and b.

95% confidence

We are 95% sure that the interval contains the true mean/proportion, and thus, the correct option is:

The interval 52% to 58% is based on a procedure that includes the true population value 95% of the time.

According to an independent research, a point estimate of the proportion of U.S. consumers of black tea is p = 0.76. Calculate the sample size needed to be 95% confident that the error in estimating the true value of p is less than 0.015? Use the z-value rounded to two decimal places to obtain the answer. 4072.69

Answers

Answer:

The sample size needed is 3115.

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of [tex]\pi[/tex], and a confidence level of [tex]1-\alpha[/tex], we have the following confidence interval of proportions.

[tex]\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}[/tex]

In which

z is the z-score that has a p-value of [tex]1 - \frac{\alpha}{2}[/tex].

The margin of error is:

[tex]M = z\sqrt{\frac{\pi(1-\pi)}{n}}[/tex]

Point estimate:

[tex]\pi = 0.76[/tex]

95% confidence level

So [tex]\alpha = 0.05[/tex], z is the value of Z that has a p-value of [tex]1 - \frac{0.05}{2} = 0.975[/tex], so [tex]Z = 1.96[/tex].

Calculate the sample size needed to be 95% confident that the error in estimating the true value of p is less than 0.015?

This is n for which M = 0.015. So

[tex]M = z\sqrt{\frac{\pi(1-\pi)}{n}}[/tex]

[tex]0.015 = 1.96\sqrt{\frac{0.76*0.24}{n}}[/tex]

[tex]0.015\sqrt{n} = 1.96\sqrt{0.76*0.24}[/tex]

[tex]\sqrt{n} = \frac{1.96\sqrt{0.76*0.24}}{0.015}[/tex]

[tex](\sqrt{n})^2 = (\frac{1.96\sqrt{0.76*0.24}}{0.015})^2[/tex]

[tex]n = 3114.26[/tex]

Rounding up:

The sample size needed is 3115.

verify cos(a+b)/cos(a) cos(b) =1-tan(a) tan(b)

Answers

The identity as been verified/proved as:

[tex]1 - \tan\ a\ tan\ b = 1 - \tan\ a\ tan\ b[/tex]

Given that:

[tex]\frac{\cos(a + b)}{\cos\ a\cos b} = 1 - \tan\ a\ tan\ b[/tex]

Apply cosine identity to the numerator

[tex]\frac{\cos\ a\ cos\ b - \sin a\ sin\ b}{\cos\ a\cos b} = 1 - \tan\ a\ tan\ b[/tex]

Split the fraction:

[tex]\frac{\cos\ a\ cos\ b}{\cos\ a\cos b} - \frac{\sin a\ sin\ b}{\cos\ a\cos b} = 1 - \tan\ a\ tan\ b[/tex]

Cancel out common terms

[tex]1 - \frac{\sin a\ sin\ b}{\cos\ a\cos b} = 1 - \tan\ a\ tan\ b[/tex]

In trigonometry, we have:

[tex]\frac{\sin \theta}{\cos \theta} = \tan \theta[/tex]

So, the equation becomes:

[tex]1 - \tan\ a\ tan\ b = 1 - \tan\ a\ tan\ b[/tex]

Hence, the identity has been verified

Read more about trigonometry identities at:

https://brainly.com/question/21055284

What steps are included in the construction of a perpendicular line through a point on a line

Answers

Answer:

A perpendicular line from a given point

Place your compass on the given point (point P).

From each arc on the line, draw another arc on the opposite side of the line from the given point (P).

Use your ruler to join the given point (P) to the point where the arcs intersect (Q).

Answer:

get the slope of original line

take the inverse of the slope and multiply by -1 (2/3 becomes - 3/2)

y = -b/a x + b

plug on y & x using the given point

calculate the "B"

go back to the y = -b/ax + calculated "B"

that is your answer

Step-by-step explanation:

Please if anyone can help me

Answers

I am unable to see the picture ( if you have one) try re uploading and I can help

The picture shows the graph of the movement of a pedestrian (B) and a bicyclist (A). Using the graph, answer the following questions: How many times is the distance covered by the bicyclist for 1 hour greater than the distance covered by the pedestrian for the same amount of time

Answers

Answer:

15km

Step-by-step explanation:

hope it is well understood

Which is equivalent to 10’6

Answers

Answer:          

35/5 (if you mean 10.6)    

1000000 (if you mean 10 to the sixth power)      

0.000001 (if you mean 10/6)

Answer:

There are 126 inches in 10'6

Step-by-step explanation:

take our feet and multiply the value by 12

Most linear graphs are direct variation, unless they go through the origin.

True

False

Answers

False

A linear graph that is a direct variation is in the form y=kx, so it has a y-intercept at (0,0). This means it passes through the origin if it is a direct variation.

Identify the terminal point for a 45° angle in a unit circle.
O A (231)
O B.
O c.
V2 72

Answers

Answer:

D

Step-by-step explanation:

x- coordinate = cos45° = [tex]\frac{1}{\sqrt{2} }[/tex] = [tex]\frac{\sqrt{2} }{2}[/tex]

y- coordinate = sin45° = [tex]\frac{1}{\sqrt{2} }[/tex] = [tex]\frac{\sqrt{2} }{2}[/tex]

That is ( [tex]\frac{\sqrt{2} }{2}[/tex] , [tex]\frac{\sqrt{2} }{2}[/tex] ) → D

Kendall wants to estimate the percentage of vegetarians who are also vegan. She surveys 150 vegetarians and finds that 45 are vegan. Find the margin of error for the confidence interval for the population proportion with a 95% confidence level.

Answers

Answer:

0.0733364

Step-by-step explanation:

Given :

Number of vegans = x ;

Sample size, n = 150

Zα/2 ; Zcritical at 95% = 1.96

p = x / n = 45 / 150 = 0.3

Margin of Error :

Zcritical * √(p(1 - p) / n)

1.96 * √(0.3(1 - 0.3) / 150)

Margin of Error :

1.96 * √(0.3 * 0.7) / 150)

1.96 * √0.0014

Margin of Error = 0.0733364

what should be added to 7777 to get 4999

Answers

We should not add we should subtract -2778

Martina got a prepaid debit card with $20 on it. For her first purchase with the card, she bought some bulk ribbon at a craft store. The price of the ribbon was 19 cents per yard. If after that purchase there was $15.63 left on the card, how many yards of ribbon did Martina buy?

Answers

Phone card = $20  

You need to minus 17.92 from 20 = $2.08  

$2.08 / 0.13 = how many minutes  

= 16

Write a quadratic equation in standard form that has two solutions, 9 and -2

(the leading coefficient must be 1.)

Answers

(x - 9)(x + 2) = 0
x^2 + 2x -9x -18 = 0
x^2 - 7x - 18 = 0

A pie is cut into 9 equal pieces. If all but 2 pieces are eaten, how much of the pie remains?

Answers

Answer:

is 7 pieces are remian

Step-by-step explanation:

9: total

2: eaten

so, 9-2 = 7 pieces?

how can a pie be equally cut into 9 pieces. anyways i think the answer is 2

3. A rectangular sheet of paper is 121/2 cm long and 102/3 cm wide. Find its perimeter .​

Answers

Answer:189 cm

Step-by-step explanation:

the area of a perimeter is 2L+2w while l is length and w is width

in this case, 121/2 is the length and 102/3 is the width.

using the formula it should be

121/2 x 2 +102/3 x

= 121 + 68

=189 cm

i hope this helps.

help with math it would help with summer school

Answers

Answer:

[tex]A). \ \ \frac{(72\pi + 9\pi )}{4} \ in^2[/tex]

Step-by-step explanation:

Given;

radius of the circle, r = 9 inches

the part of the circle cut out = one-forth of the complete circle

the angle of the sector cut out θ= ¹/₄ x 360 = 90⁰

Area of the complete circle = πr² = π x 9² = 81π in²

Area of the sector cut out = [tex]= \frac{\theta }{360} \pi r^2 = \frac{90}{360} \pi (9^2) = \frac{1}{4} \times 81\pi = \frac{81 \pi}{4} = \frac{(72\pi + 9\pi)}{4} \ in^2[/tex]

Therefore, the only correct option is A. [tex]\frac{(72\pi + 9\pi )}{4} \ in^2[/tex]

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How old are they Two loudspeakers, 5.5 m apart and facing each other, play identical sounds of the same frequency. You stand halfway between them, where there is a maximum of sound intensity. Moving from this point toward one of the speakers, you encounter a minimum of sound intensity when you have moved 0.25 m . Assume the speed of sound is 340 m/s. Required:a. What is the frequency of the sound?b. If the frequency is then increased while you remain 0.21 m from the center, what is the first frequency for which that location will be a maximum of sound intensity?c. write a letter to your friend discribing the festival you celebrate recently Mycobacterium tuberculosis (Mtb) is a bacterial pathogen that can cause skin infections as well as pneumonia. Mtb is often phagocytosed by immune cells called macrophages that normally destroy bacterial pathogens, but Mtb is somehow able to prevent the maturation of phagosomes into phagolysosomes, and to live and replicate inside these organelles. 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