Each month, a shopkeeper spends 5x + 14 dollars on rent and electricity. If she spends 3x-7 dollars on rent, how much does she spend on electricity? Use pencil and paper. For which
value(s) of x is the amount the shopkeeper spends on electricity less than $100? Explain how you found the value(s)
She spends
(Simplify your answer.)
dollars on electricity.

Answers

Answer 1

The values of x is [tex]x < 39.5[/tex].

Given that the shopkeeper spends on rent and electricity is [tex]= 5x+14[/tex]

Spending of shopkeeper on rent [tex]= 3x-7[/tex]

So shopkeeper spends on electricity [tex]= (5x+14) - (3x-7) = 2x+21[/tex]

Given that amount the shopkeeper spends on electricity less than 100.

So suitable inequality,

[tex]2x+21 < 100[/tex]

[tex]2x < 100-21[/tex]

[tex]2x < 79[/tex]

[tex]x < 39.5[/tex]

All the values of [tex]x < 39.5[/tex].

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Related Questions

What is the MAD of 12, 10, 12, 6, 8, 4, 2, 12,

Answers

The mean absolute deviation (MAD) of the given set of data is 3.875.

To calculate the mean absolute deviation, we first need to find the mean of the data set by adding up all the numbers and dividing by the total number of values:

Mean = (12 + 10 + 12 + 6 + 8 + 4 + 2 + 12) / 8

Mean = 8

Next, we find the absolute deviation of each number from the mean. To do this, we subtract the mean from each number and take the absolute value:

|12 - 8| = 4

|10 - 8| = 2

|12 - 8| = 4

|6 - 8| = 2

|8 - 8| = 0

|4 - 8| = 4

|2 - 8| = 6

|12 - 8| = 4

Then, we find the mean of the absolute deviations:

Mean absolute deviation = (4 + 2 + 4 + 2 + 0 + 4 + 6 + 4) / 8

Mean absolute deviation = 26 / 8

Mean absolute deviation = 3.875

Therefore, the mean absolute deviation of the given set of data is 3.875.

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Complete Question:

what is the mean absolute deviation of the following set of data 12 10 12 6 8 4 2 12.

A walkway forms one diagonal of a square playground. The walkway is 22m long. How long is a side of the​ playground?

Answers

Answer:

15.556

Step-by-step explanation:

The length of the diagonal of a square is equal to the length of one side of the square multiplied by the square root of 2

22=x√2

philip is making snack mix to take on his family's upcoming road trip. he mixes 2 pounds each of pretzels, peanuts, and cheese crackers. then, he splits the mix evenly among 12 bags. how many ounces of snack mix does philip put in each bag?

Answers

Philip puts 8 ounces of snack mix in each bag. To get this answer, we found the total weight of the mix by adding the weights of the three ingredients and converted it to ounces.

First, we need to find the total weight of the mix. Since Philip mixes 2 pounds of each ingredient and he has three ingredients, the total weight of the mix is:

2 pounds + 2 pounds + 2 pounds = 6 pounds

Since there are 16 ounces in a pound, the total weight of the mix in ounces is:

[6 pounds] 16 ounces/pound = 96 ounces

To find how many ounces of mix Philip puts in each bag, we divide the total weight of the mix by the number of bags:

96 ounces / 12 bags = 8 ounces per bag

Therefore, Philip puts 8 ounces of snack mix in each bag.

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determine the percentage of children who experience relief for less than four hours if the relief time follows a lognormal distribution.

Answers

Around 0.13% or 0.0013 of children find relief for less than four hours.

The percentage of children who experience relief for less than four hours if the relief time follows a lognormal distribution is determined as follows:

Step 1: Define the parameters of the problem. Assume that relief times are normally distributed with a mean of μ = 5.5 hours and a standard deviation of σ = 0.5 hours. We want to find the percentage of children who experience relief for less than four hours.

Step 2: Convert the normal distribution to the standard normal distribution using the formula: z = (x - μ) / σwhere x is the relief time in hours.

Step 3: Find the z-score corresponding to the value of x = 4:z = (4 - 5.5) / 0.5 = -3

Step 4: Use a standard normal distribution table to find the percentage of the area under the curve to the left of z = -3. This is equivalent to the percentage of children who experience relief for less than four hours.

Using the standard normal distribution table or calculator, we get that the percentage of children who experience relief for less than four hours is approximately 0.13% or 0.0013.


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shen wants to earn more than $33 trimming trees. he charges $8 per hour and pays $7 in equipment fees. what are the possible numbers of hours shen could trim trees?

Answers

The answer is 4.375 hours.
Since this is not a whole number, Shen will need to trim trees for at least 5 hours in order to earn more than 33.

In order to answer this question, we need to know how much Shen is wanting to earn and what his rate of pay and equipment fees are. You've stated that Shen wants to earn more than 33 trimming trees and that he charges 8 per hour and pays 7 in equipment fees.
The formula to solve this problem is:
Earnings = Rate of Pay x Number of Hours – Equipment Fees
Therefore, we can calculate the number of hours Shen needs to trim trees in order to earn more than 33.
Number of Hours = (Earnings + Equipment Fees) / Rate of Pay
Substituting in the values provided in the question:
Number of Hours = (33 + 7) / 8
                             + 4.375 hours.
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i need help pleaseee

Answers

1/10 will be the result of the function j(7).

The input-output pair (-10,7) is on function h

The input-output pair 7,-10) is on function j

An inverse function is what?

An inverse function is described as a function where two variables affect one another and the value of an independent variable is used to solve the function.

h and j are inverses

x=-10 so h(x)=7

h(-10)=7

H is inverse of j

h(x)=j-1(x)

7=j-1(x)

j(7)=x

Hence j(7)=-10

F(x) = 2x

y = 2x

The inverse function is calculated as:-

x = 2y

y = x / 2

F'(x) = x / 2

Given that Functions hand j are inverses. For x = -10, the value of h(x), or h (-10) = 7, is 7.

As, h(x) is 7

The input-output pair (-10,7) is on function h

The input-output pair (7,-10) is on function j

Using the supplied data, the value of the function j(7) will be 1/10.

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A white solid is known to be a chloride in which the metal ion is sodium, potassium, calcium, or aluminium.
A chemist was told to carry out a test for each metal ion that could be present in this white solid.
Describe tests to show the presence of each of these metal ions.

Answers

The reaction of ammonium hydroxide and aluminium chloride will form a white precipitate.

The presence of sodium, potassium, calcium, or aluminium chloride can be tested using a combination of physical and chemical methods. For sodium chloride, the flame test is the most common and effective way to confirm its presence. The sodium chloride compound will emit a yellowish-orange flame when exposed to heat. To test for the presence of potassium chloride, the chloride test is used. The presence of potassium chloride will cause a violet or purple color in the reaction when it is added to a silver nitrate solution. To test for the presence of calcium chloride, aqueous ammonia is added.

The formation of a white precipitate confirms the presence of calcium chloride. Lastly, to test for the presence of aluminium chloride, ammonium hydroxide is used.

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you are skiing down a mountain with a vertical height of 1200 feet. the distance from the top of the mountain to the base is 2400 feet. what is the angle of elevation from the base to the top of the mountain?

Answers

The angle of elevation from the base to the top of the mountain is 26.56°.

Given, The vertical height of a mountain = 1200 feet

The distance from the top of the mountain to the base = 2400 feet

Now, we need to find the angle of elevation from the base to the top of the mountain.

Hence, we can find the angle of elevation by using the formula

tanθ = Perpendicular/Base

Now, let's apply the formula,

tanθ = Perpendicular/Base 1200/2400= 0.5 tanθ = 0.5

Now, we need to find the value of θθ = tan⁻¹ 0.5θ = 26.56°

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The directions and example is in the photo, I really need help with this stuff ​

Answers

The height of the BD for the house using Pythagorean theorem is obtained as: 4.23 m.

Explain about the Pythagorean theorem?

According to the Pythagorean Theorem, for any triangle which is a right triangle, the squares of the legs added together equal the square of the hypotenuse.

In the given triangle ABC.

AB = BC = 6 cm

So, ∠A = ∠C  (by isosceles triangle)

Then, AD = DC = 8.5/2

So, in right angles triangle ABD, applying Pythagorean theorem:

AB² = AD² + BD²

6² = (8.5/2)² + BD²

36 - 18.0625 = BD²

BD = √17.9375

BD =  4.23

Thus, the height of the BD for the house using Pythagorean theorem is obtained as: 4.23 m.

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60%of the fans at a hockey game were wearing red if there were 6040 how many were wearing red? On a double line

Answers

We can claim that after answering the above question, the Therefore, equation there were 3624 fans wearing red at the hockey game.

What is equation?

In mathematics, an equation is a statement that states the equality of two expressions. An equation is made up of two sides separated by an algebraic equation (=). For example, the argument "2x + 3 = 9" contends that the sentence "2x + 3" equals the value "9". The purpose of equation solving is to identify the value or values of the variable(s) that will make the equation true. Simple or complex equations, regular or nonlinear, with one or more factors are all possible. For example, in the equation "x2 + 2x - 3 = 0," the variable x is raised to the second power. Lines are utilized in many areas of mathematics, including algebra, calculus, and geometry.  

Let's start by setting up a proportion:

[tex]60/100 = x/6040\\100x = 60 * 6040\\x = (60 * 6040) / 100\\x = 3624[/tex]

Therefore, there were 3624 fans wearing red at the hockey game.

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why do we use the paired t test for these data? in other words, why these two samples are matched pairs? select the most suitable answer.

Answers

Two samples are matched pairs because there are two samples and each pair in the two samples have about the same GPA indicating they have similar characteristics. Correct option is A.

This is because the paired t-test is used when we have two related samples or when the same sample is measured twice, such as before and after a treatment.

In this case, the two samples being compared are students' GPAs before and after a particular intervention or treatment. Since the same group of students are being measured twice, they are matched pairs and the paired t-test is appropriate to use.

Option B is not a suitable answer because the fact that the samples are both MBA majors does not necessarily make them matched pairs. Option C is also not a suitable answer because having equal numbers of data does not necessarily make the samples matched pairs.

Option D is not a suitable answer because it does not provide any explanation as to why the paired t-test is being used.

Therefore, correct option is A.

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Complete question is:

Why do we use the paired t test for these data? In other words, why these two samples are matched pairs? Select the most suitable answer. A. There are two samples and each pair in the two samples have about the same GPA indicating they have similar characteristics.

B. There two samples of MBA majors.

C. There are two samples with equal number of data.

D. None of these.  

20 out of 21 students want pancakes and the rest want waffles. What is the ratio of the number of students who want waffles to the total number of students?

Answers

Answer: 20:21 or 20 to 21

Step-by-step explanation:

Answer:

If 20 out of 21 students want pancakes, then only 1 student wants waffles.

The ratio of the number of students who want waffles to the total number of students is therefore:

1 waffle student : 21 total students

or simplified as:

1 : 21

So the ratio is 1 to 21

54 is what percent of 90? Question 9 options: 60% 65% 55% 52%

Answers

Answer:

The answer to your problem is, A. 60%

Step-by-step explanation:

54 of 90 can be written as: [tex]\frac{54}{90}[/tex]

To find percentage, we need to find an equivalent fraction with denominator 100. Multiply both numerator & denominator by 100

[tex]\frac{54}{90} * \frac{100}{100}[/tex]

= [tex]\frac{( 54 * 100)}{90} * \frac{1}{100} = \frac{60}{100}[/tex]

Thus the answer to your problem is, A. 60%

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Answer:

x = 60%

Step-by-step explanation:

Let the unknown percentage be x.

We can make an expression using the given information.

[tex]\sf90*\frac{x}{100} =54[/tex]

Solve for x to find the percentage.

[tex]\sf\frac{90x}{100} =54\\90x=54*100\\\\90x=5400\\\\\frac{90x}{90}=\frac{5400}{90}\\\\ x=60[/tex]

in how many positive four-digit integers that are not multiples of $1111$ do the digits form an arithmetic sequence? (the digits must form an arithmetic sequence, in order. for example, the number $5137$ does not count.)

Answers

$8\times9\times8\times9 = 5184$


There are a total of $8\times9\times8\times9 = 5184$ positive four-digit integers that are not multiples of 1111 and form an arithmetic sequence. To explain further, the first digit can be any integer from 1 to 8 (not 0 as the number must be four-digits long). Once the first digit is chosen, the second digit can be any integer from 1 to 9. Once both the first and second digits are chosen, the third digit can be any integer from 1 to 8, and finally the fourth digit can be any integer from 1 to 9. Therefore, the total number of four-digit integers that are not multiples of 1111 and form an arithmetic sequence is $8\times9\times8\times9 = 5184$.

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A nationwide coffee chain is downsizing its branches in six states It has already told the store man

Answers

the nationwide coffee chain is downsizing its branches in six states, and has already informed the store managers. The process should involve analyzing the reasons for downsizing, identifying the branches to be downsized, developing a transition plan, implementing the plan, and monitoring the progress and results.

The question asks about a nationwide coffee chain that is downsizing its branches in six states and has informed the store managers.
To answer this question, we can discuss the process of downsizing branches and the possible reasons behind it.
Analyze the reasons for downsizing
The coffee chain may be downsizing due to financial challenges, declining sales, or a shift in strategic focus. Understanding the reasons for downsizing will help in determining the best approach to manage the process.
Identify the branches to be downsized
The coffee chain must have a clear plan for which branches in the six states will be downsized. This can be based on factors such as sales performance, location, and overall profitability of each branch.
Inform the store managers
The coffee chain has already taken this step by informing the store managers about the downsizing. This is important to ensure that they are aware of the changes and can communicate this information to their employees.
Develop a transition plan
The coffee chain should develop a comprehensive plan to manage the downsizing process. This could involve offering support to affected employees, such as providing severance packages, job placement assistance, or opportunities to transfer to other branches.
Implement the downsizing plan
Once the plan has been developed, the coffee chain can begin the process of downsizing the identified branches. This may involve closing or merging some locations, reducing staff, and reallocating resources.
Monitor the progress and results
After the downsizing process is complete, the coffee chain should closely monitor the outcomes and make any necessary adjustments to ensure the desired results are achieved.

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John is making apple pies and apple cobblers to sell at his stand at the Farmer's Market.

A pie uses 4 cups of apples and 3 cups of flour.
A cobbler uses 2 cups of apples and 3 cups of flour.
John has 16 cups of apples and 15 cups of flour.

When John sells the pies and cobblers at the Farmer's Market, he will make $3.00 profit per pie and $2.00 profit per cobbler.

Let x = the number of pies John makes.

Let y = the number of cobblers John makes.

Enter the four constraints into the graphing calculator.

What are the vertices of the feasible region?

Hint: input your answers from questions 3, 4, and 5 into Desmos to find the vertices.
Answers from questions 3, 4, and 5
[tex]4x+2y≤16\\3x+3y≤15\\x≥0\\y≤0[/tex]

Answers

Answer:huh,

Step-by-step explanation:I don’t understand you’re saying

State whether you agree with the following statement. Explain your reasoning.



A temperature of -11 degrees Fahrenheit is warmer than a temperature of -15 degrees Fahrenheit.

Answers

Answer:

I disagree with the statement that a temperature of -11 degrees Fahrenheit is warmer than a temperature of -15 degrees Fahrenheit.

Temperatures are usually compared in terms of their absolute values. In the case of Fahrenheit, the absolute value of a temperature can be obtained by adding 459.67 to the Fahrenheit temperature. Using this conversion, we can see that:

 •A temperature of -11 degrees Fahrenheit is equal to 471.47 degrees  absolute.

•A temperature of -15 degrees Fahrenheit is equal to 456.67 degrees  absolute.

Since 471.47 is greater than 456.67, we can conclude that a temperature of -11 degrees Fahrenheit is colder than a temperature of -15 degrees Fahrenheit in terms of their absolute values. Therefore, a temperature of -15 degrees Fahrenheit is actually warmer than a temperature of -11 degrees Fahrenheit.

This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be able to come back to the skipped part. A tank contains 15,000 L of brine with 22 kg of dissolved salt. Pure water enters the tank at a rate of 150 L/min. The solution is kept thoroughly mixed and drains from the tank at the same rate. Exercise (a) How much salt is in the tank after t minutes? Click here to begin! Exercise (b) How much salt is in the tank after 10 minutes? Click here to begin! Need Help? Read It Talk to a Tutor

Answers

Answer:

  a) 22e^-0.01t kilograms

  b) about 19.906 kilograms

Step-by-step explanation:

You want an equation for the amount of salt in a 15 kL brine tank initially containing 22 kg of salt if 150 L/min of the contents is replaced by pure water.

(a) Remaining salt

The quantity of salt s(t) in kilograms can be described by the differential equation ...

  s(0) = 22; s'(t) = -150/15000·s(t)

The solution can be found by separation of variables.

  [tex]\displaystyle\dfrac{ds}{dt}=-0.01s\\\\\int{\dfrac{1}{s}}\,ds=-0.01\int{}\,dt\\\\\ln{s}=-0.01t+c_1\\\\s=c_2\cdot e^{-0.01t}\qquad\text{where $c_2$ is $s(0)=22$}\\\\\boxed{s(t)=22e^{-0.01t}}[/tex]

(b) s(10)

The amount of salt remaining after 10 minutes is ...

  s(10) = 22·e^(-0.01·10) = 22·e^-0.1

  s(10) ≈ 19.906 . . . . kilograms

There is about 19.906 kg of salt in the tank after 10 minutes.

__

Additional comment

The initial rate of change of the amount of salt is -22/100 kg/min, so after 10 minutes, we expect an approximate reduction by 2.2 kg to 19.8 kg. Since the rate slows as salt is removed, the value 19.9 kg after 10 minutes is reasonable.

There are a couple of places where the integration constant can be put in the equation for the salt quantity. As a multiplier of the exponential function, its value is found in a straightforward way.

a pizza that is 12 in diameter is cut into six slices. find the length of each arc intercepted by each slice (length of the crust). find the area of each slice.

Answers

The length of each arc intercepted by each slice is 2.09 inches.

The area of each slice 18.85 square inches .

To find the length of each arc intercepted by each slice and the area of each slice of a pizza that is 12 inches in diameter, follow the steps below. Length of each arc intercepted by each slice

The formula to find the length of each arc is given by:

L = θ/360 * 2πr

WhereL = length of arc

θ = angle of arc in degrees

r = radius of circle (diameter/2)

Given, diameter of pizza = 12 inches

So, radius of pizza = 12/2 = 6 inches

Since the pizza is cut into 6 equal slices, each slice will have an angle of 360/6 = 60 degrees.

Now, substituting the given values in the formula:

L = 60/360 * 2π* 6L = 1/6 * 12πL = 2π/3 ≈ 2.09 inches

The formula to find the area of each slice is given by:

A = θ/360 * πr²

Given, diameter of pizza = 12 inches

So, radius of pizza = 12/2 = 6 inches

Since the pizza is cut into 6 equal slices, each slice will have an angle of 360/6 = 60 degrees.

Now, substituting the given values in the formula:

A = 60/360 * π* 6²A = 1/6 * 36π

A = 6π ≈ 18.85 square inches

Thus, the length of each arc intercepted by each slice is approximately 2.09 inches and the area of each slice is approximately 18.85 square inches.

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PLEASEEE HELP ASAP MIGHT BE EASYY

Answers

Answer:

3rd choice down (the one already selected)

Step-by-step explanation:

to prove it, plug each value of x in the table into f(x) = x - 6 and check the answers with what is in the y column.

f(-5) = -5 - 6 = -11

f(-8) = -8 - 6 = -14

f(-7) = -7 - 6 = -13

all the numbers in the 3rd choice check out

Find the average rate of change for the function

Answers

Answer:

average rate of change on [-1,3] = 11

Step-by-step explanation:

avg rate of change = [tex]\frac{f(b)-f(a)}{b-a}[/tex]

[tex]\frac{f(3)-f(-1)}{3-(-1)}[/tex]

1. find your y-values.

we are given the x values from the interval [-1,3]. Plug each into the equation to get the y-value of the coordinates.

[tex]f(-1)=4(-1)^2+3(-1)-4\\f(-1)=4(1)-3-4\\f(-1)=-3\\[/tex]

coordinate: (–1,3)

[tex]f(3)=4(3)^2+3(3)-4\\f(3)=4(9)+9-4\\f(3)=36+9-4\\f(3)=41[/tex]

coordinate: (3, 41)

2. plug into the slope formula

[tex]m=\frac{y_{2} -y_{1} }{x_{2} -x_{1} } \\m=\frac{41-(-3)}{3-(-1)} \\m=\frac{41+3}{4} \\m=\frac{44}{4} \\m=11[/tex]

Solve for Z =

Please answer

Answers

Answer:

z = 32°

vertical angles are equal to each other. 32° ≅ z°

A rope of length L is clamped at both ends. Which one of thefollowing is not a possible wavelength for standing waves on thisrope?
a. L/2
a. 2L/3
c. L
d. 2L
e. 4L
Please show all work or explain so that I can learn fromyou.
Thanks...

Answers

The not a possible wavelength for standing waves on this rope is 4L

Hence the answer is 'e'

Explanation:

A rope of length L is clamped at both ends. The wavelength of a wave on a string depends on the frequency of the wave and the speed of the wave on the string.

What is the wavelength of the wave?

The wavelength of a wave on a string depends on the frequency of the wave and the speed of the wave on the string. The speed of the wave is given by

:v = √(F/u

)where v is the speed of the wave, F is the tension on the string, and u is the linear mass density of the string (mass per unit length).The frequency of the wave is given by:

f = n*v/2L

where f is the frequency of the wave, n is the number of antinodes in the standing wave pattern, and L is the length of the string.The wavelength of the wave is given by:λ = 2L/n

What is the possible wavelength for standing waves on this rope?

The possible wavelengths for standing waves on this rope are given by the formula:

λ = 2L/n

where L is the length of the rope and n is a positive integer.

Therefore, the possible wavelengths for standing waves on this rope are:L/22L/32LL2L4L

The wavelength that is not possible for standing waves on this rope is option e) 4L, because it is not an integer multiple of L/2.

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Brainly what is the volume of a cylinder with a base radius 3 and height 6

Answers

Answer:

about 169.65

Step-by-step explanation:

The formula for the volume of a cylinder is [tex]\pi r^2h[/tex].

All you have to do is plug the numbers in.

[tex]V=\pi (3)^2(6)[/tex]

Then use a calculator to evaluate.

The volume of the cylinder is approximately 169.56 cubic units.

The formula for the volume of a cylinder is:

V = πr^2h

where V is the volume, r is the radius of the base, and h is the height.

Substituting the given values, we get:

V = π(3)^2(6)

V = π(9)(6)

V = 54π

Therefore, the volume of the cylinder is 54π cubic units. If you need an approximate numerical value, you can use the approximation 3.14 for π and calculate:

V ≈ 54 x 3.14

V ≈ 169.56

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The correct question is :

What is the volume of a cylinder with a base radius of 3 units and height of 6 units?

SOMEONE HELP I WILL GIVE U BRAINLEST PLS 1-10

Answers

Answer:

7/4

Step-by-step explanation:

if you divide 7/4, you will get 1.75 which is greater than 1.43.

Answer:

Hi, your answer is 7/4

Step-by-step explanation:

Hope this helps :D

find the Lcm of the two numbers 294 and 714 using their Hcf​

Answers

Answer:

Step-by-step explanation:

which of the following is a discrete data random variable? cars finished in a factory each day a person's height each birthday a person's weight on each year the volume of water in a swimming pool each day

Answers

A discrete data random variable is a random variable that can only take on a finite or countable number of values.

Out of the options given, the number of cars finished in a factory each day is a discrete data random variable. This is because the number of cars finished can only take on a finite number of values, such as 0, 1, 2, 3, and so on. It cannot take on any value between these integers, and there are only a finite number of possible values.

In contrast, a person's height and weight are continuous data random variables, as they can take on any value within a certain range (for example, a person's height can take on any value between 4 feet and 7 feet).

Similarly, the volume of water in a swimming pool can take on any value within a certain range, and is also a continuous data random variable.

Therefore, the only discrete data random variable out of the options given is the number of cars finished in a factory each day.

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Please help me on a math problem it’s for a grade

Thank You

Answers

Answer:

Angle 4 and angle 8 are corresponding angles because they are the same angle on the same side.

what are the appropriate measures of relative standing for ordinal data? percentiles and quartiles quartiles none

Answers

The appropriate measures of relative standing for ordinal data are percentiles and quartiles.

What is ordinal data?

Ordinal data is a type of categorical data in which the categories are ordered, as in the case of survey data in which respondents are given the option of selecting "poor," "fair," "good," or "excellent" to describe a product, service, or other object. The ordering of the data allows for comparisons between the data sets to be made with greater accuracy than with nominal data, which simply labels data points without any order or ranking.

What are the appropriate measures of relative standing for ordinal data?

Percentiles and quartiles are appropriate measures of relative standing for ordinal data. The percentile is a measure of location that specifies the percentage of observations in the distribution that fall below the value. Quartiles are measures of location that divide a dataset into four equal parts. The first quartile (Q1) represents the 25th percentile of the distribution, the second quartile (Q2) represents the 50th percentile, and the third quartile (Q3) represents the 75th percentile.

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HELP The expression 1 × e(0.06t) models the balance, in thousands of dollars, of an account t years after the account was opened. 1. What is the account balance: a. when the account is opened? b. after 1 year? c. after 2 years? 2. Diego says that the expression In 5 represents the time, in years, when the account will have 5 thousand dollars. Do you agree? Explain your reasoning. 3. Suppose you opened this account at the beginning of this year. Assume that you deposit no additional money and withdraw nothing from the account. Will the account balance reach $1,000,000 and make you a millionaire by the time you reach retirement? Show your reasoning.​

Answers

a. The account balance is $1000 when opened.

b. $1,060 is the balance after 1 year.

c. 42.98 years as per compound interest.

What is compound interest?

Compound interest is a type of interest that is calculated not only on the principal amount of a loan or investment but also on the accumulated interest from previous periods. This means that interest is added to the principal amount, and the new total becomes the basis for calculating interest in the next period.

In the given question,

a. When the account is opened, t = 0. Therefore, the balance is:

1 × e(0.06 × 0) = 1 × e⁰ = 1

The account balance is $1,000 when it is opened.

b. After 1 year, t = 1. Therefore, the balance is:

1 × e(0.06 × 1) ≈ 1.06

The account balance is approximately $1,060 after 1 year.

c. After 2 years, t = 2. Therefore, the balance is:

1 × e(0.06 × 2) ≈ 1.123

The account balance is approximately $1,123 after 2 years.

Diego's statement is not accurate. The expression In 5 represents the natural logarithm of 5, which is approximately 1.609. It does not represent the time, in years, when the account will have 5 thousand dollars.

To find the time when the account will have a balance of $5,000, we need to solve the equation:

1 × e(0.06t) = 5

Dividing both sides by 1:

e(0.06t) = 5

Taking the natural logarithm of both sides:

ln(e(0.06t)) = ln(5)

0.06t = ln(5)

t = ln(5) / 0.06 ≈ 11.55

Therefore, the account will have a balance of $5,000 after approximately 11.55 years.

We can use the same equation as in part 2 to find out if the account balance will reach $1,000,000. We need to solve the equation:

1 × e(0.06t) = 1000

Dividing both sides by 1:

e(0.06t) = 1000

Taking the natural logarithm of both sides:

ln(e(0.06t)) = ln(1000)

0.06t = ln(1000)

t = ln(1000) / 0.06 ≈ 42.98

Therefore, the account balance will reach $1,000,000 after approximately 42.98 years.

Whether or not this will make you a millionaire by the time you reach retirement depends on when you plan to retire and how much money you need for retirement. If you plan to retire in less than 43 years or you need more than $1,000,000 for retirement, then this account alone will not make you a millionaire.

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