Probability & Accounting
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In a container with 100 mixed nuts, 25% are cashews, 25% are pecans, 20% are Brazil nuts. If 10 are randomly selected without replacement what is the probability that 7 are peanuts and 3 are cashews? The answer is 0.0003. How is this done? I know it's with binomial distributions, and the replacement thing doesn't matter because independence is satisfied by a 10% sample size...At least, I think that's the case.
If Laura invests $200 each month in a fund earning 3.46% annual interest compounded quarterly for 11 years, how much will Laura have in the fun at the end of 11 years? $31,961 is the answer. No clue how this one is done. I've tried everything I know of, P(1+i)nt = a((1+i)nt - 1)/i
There are four types of balls, a soccer ball, basketball, baseball, and tennis ball. What is the probability of selecting AT LEAST 10 of the same ball? I know the probability of selecting at least 10 of one particular ball is 1 - binomialcdf(9, 24, 0.25) = 0.0546693. I don't think it's a simple matter of multiplying by four and adding it up as "OR" events that are independent and added together. I don't have the answer for this one.
>100 mixed nuts,
>25 are cashews,
>25 are pecans
>20 are Brazil nuts.
>If 10 are randomly selected without replacement what is the probability that 7 are peanuts and 3 are cashews?
Peanuts?
>the replacement thing doesn't matter because independence is satisfied by a 10% sample size...At least, I think that's the case.
you're wrong.
>If Laura invests $200 each month in a fund earning 3.46% annual interest compounded quarterly for 11 years, how much will Laura have in the fun at the end of 11 years? $31,961 is the answer. No clue how this one is done. I've tried everything I know of, P(1+i)nt = a((1+i)nt - 1)/i
I would say, this result is wrong. It is calculating an annuity immediate (31960,88862) when really it should be calculating an annuity due (32237,3503). Nobody says they start investing in a fund at the start of the month, when they make the first payment at the end of the month. This is stupid!
