Answer: the likelihood of a randomly selected tire lasting exactly 47,500 miles is 0.067
Step-by-step explanation:
Since the expected lifespan of this tire brand follows a normal distribution, we will use the normal distribution formula:
z = (x - µ)/σ
Where
x = lifespan of the tire in miles.
µ = mean
σ = standard deviation
The given figures include,
µ = 40000 miles
σ = 5000 miles
The probability that a tire will last precisely 47,500 miles
P(x = 47500)
For x = 47500,
z = (40000 - 47500) / 5000 = -1.5
According to the standard normal distribution table, the probability associated with this z score is 0.067
You might have better success by searching for answers individually:)
FV = P(1 + r/t)^nt, where P denotes the principal amount, r is the interest rate, t is the frequency of compounding per year, and n is the total number of years.
Calculating: FV = 7650(1 + 0.05/4)^(9 x 4) = 7650(1 + 0.0125)^36 = 7650(1.0125)^36 = 7650(1.564) = $11,964.17
