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Questions and Answers
Match the following statistical concepts with their corresponding values:
Match the following statistical concepts with their corresponding values:
Mean = 25 Standard Deviation = 2.0 Z-score = ? Interest Rate = ?
Match the following financial concepts with their corresponding descriptions:
Match the following financial concepts with their corresponding descriptions:
Simple Interest = Interest earned on loan amount Loan Duration = Timeframe to repay the loan Interest Rate = Percentage of loan amount earned as interest Total Amount = Initial loan amount + interest
Match the following values with their corresponding descriptions:
Match the following values with their corresponding descriptions:
Php23, 000 = Initial loan amount 5% = Interest rate offered by ABC Bank 3 years = Loan duration ? = Total amount to be paid to the bank
Match the following bank details with their corresponding descriptions:
Match the following bank details with their corresponding descriptions:
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Match the following statistical measures with their corresponding formulas:
Match the following statistical measures with their corresponding formulas:
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Study Notes
Z-Score Calculation
- Mean (μ) is 25; standard deviation (σ) is 2.0.
- Z-score formula: ( Z = \frac{(X - μ)}{σ} ) where X is the value to be standardized.
- For example, to find the Z-score for X = 10:
- ( Z = \frac{(10 - 25)}{2.0} = \frac{-15}{2.0} = -7.5 )
- For X = 20:
- ( Z = \frac{(20 - 25)}{2.0} = \frac{-5}{2.0} = -2.5 )
- For X = 25:
- ( Z = \frac{(25 - 25)}{2.0} = 0 )
- For X = 35:
- ( Z = \frac{(35 - 25)}{2.0} = \frac{10}{2.0} = 5 )
- For X = 40:
- ( Z = \frac{(40 - 25)}{2.0} = \frac{15}{2.0} = 7.5 )
Simple Interest Calculation
- Simple interest formula: ( I = P \times r \times t )
- ( P ) (principal amount) is Php 23,000; ( r ) (interest rate) is 5% or 0.05; ( t ) (time in years) is 3.
- Calculate interest earned:
- ( I = 23,000 \times 0.05 \times 3 = 3,450 ) Php
- Total amount to be paid:
- Total Amount = Principal + Interest
- ( Total = 23,000 + 3,450 = 26,450 ) Php
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Description
Solve problems involving mean, standard deviation, and simple interest. Calculate the z-score and interest earned on a loan.
