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FM

Answered

Which of the following does not represent a continuous uniform random variable?

A) f(x) = 1/2 for x between −1 and 1,inclusive.
B) f(x) = 10 for x between 0 and 1/10,inclusive.
C) f(x) = 1/3 for x = 4,5,6.
D) None of these choices represents a continuous uniform random variable.

On Sep 29, 2024


C
FM

Answered

Nelda Brown borrowed $1,420 for 120 days to buy some new furniture for her office. At the due date, Nelda repaid a total of $1,448. What was the exact simple interest rate (365-day year) that she paid on the loan? (To nearest 1/10 of a percent.)

On Sep 22, 2024


$1,448 - $1,420 = $28 interest
R = I ÷ (PT) = $28 ÷ ($1,420 × 120/365) = 0.05998 or 0.06 = 6%