Use the Exponential Decay Formula to Find the Final Amount

question 163

Multiple Choice

Use the exponential decay formula to find the final amount. Round to the nearest whole.
- $\begin{array}{c|c|c|c}\begin{array}{c}\text { Original } \\\text { Amount }\end{array} & \begin{array}{c}\text { Decay } \\\text { Rate per Year }\end{array} & \begin{array}{c}\text { Number } \\\text { of Years, }\end{array} & \begin{array}{c}\text { Final Amount after } \\\text { x Years of Decay }\end{array} \\\hline 12,000 & 12 \% & 11 &\end{array}$

• A) 2594
• B) 3330
• C) 2964
• D) 2941

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Definitions:

Z Scores

An indicator that quantifies the distance of a particular value from the mean of a dataset, using standard deviations as the unit of measure.

Z Score

A statistical measurement that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations.

Mean

The average of a set of numbers, calculated by adding all the numbers together and then dividing by the count of the numbers.

Inferential Statistics

Involves making predictions or inferences about a population based on a sample of data.