THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 239

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The amount of time you have to wait at a particular stoplight is uniformly distributed between zero and two minutes.
-What is the probability that you have to wait between 15 and 45 seconds for the stoplight?

• A)0.15
• B)0.25
• C)0.35
• D)0.45

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Definitions:

Loanable Funds

The money available for borrowing in the financial markets, determined by savings and investments.

Savers

Individuals or entities that set aside a portion of current income for future use, often by depositing money in savings accounts or investing in securities.

Inflation Rate

The speed at which the overall price level of goods and services increases, leading to a decrease in purchasing power.

Nominal Interest Rate

The interest rate expressed in terms of annual amounts currently charged for interest and not adjusted for inflation.