MATH MMA Final Test - LHHS

Quiz by Luc Falies

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25 questions

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- Q1300s
- Q2300s
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- Q6300s
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- Q10300s
- Q11300s
- Q12A Bernoulli distribution is a random experiment that has only two outcomes (usually called a “Success” or a “Failure”) - An example of Bernoulli distribution is the probability of getting a heads (a “success”) while flipping a coin is 0.5 (1/2). The probability of “failure” is 1 – P (1 minus the probability of success, which also equals 0.5 (1/2) for a coin toss).TRUEFALSE300s
- Q13The formula for compound interest is P (1 + r/n)^(nt) ...where P is the initial principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time periods.where P is price you pay to the bank to open an account, r is the rate at which your money will double, n is the number of times per year you can withdraw money and t is the time period the bank will let you invest.300s
- Q14Knowing that the Simple Interest Formula is I=Prt COMPUTE THE INTEREST if you invest $1000 for 2 years at 3%I = $ 6,000.00I = $ 60.00I = $ 6300s
- Q15Credit Limit – The term credit limit refers to the MINIMUM amount of credit a financial institution extends to a client.TRUEFALSE300s