Answer: x is equal to 1
Step-by-step explanation:
Brainly what is the volume of a cylinder with a base radius 3 and height 6
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?
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.
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.
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]
Answer:huh,
Step-by-step explanation:I don’t understand you’re saying
60%of the fans at a hockey game were wearing red if there were 6040 how many were wearing red? On a double line
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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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
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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sam wants to build a toy box in the shape of a rectangular prism that will hold 36 cubic feet. if the height needs to be 1 foot less than the width and the length is twice the width, find the height of the toy box.
The Height of the toy box is 7 feet.
The height of the toy box in the shape of a rectangular prism is calculated using the following formula:
Volume = Length * Width * Height.
In this case, Volume = 36 cubic feet, Length = 2 * Width, and Height = Width - 1.
Therefore, we can solve for the Width by substituting the values into the formula:
36 = (2 * Width) * (Width - 1)
36 = 2 * Width^2 - Width
2 * Width^2 - Width - 36 = 0
By using the quadratic formula, Width = 8.
Therefore, the Height of the toy box is 7 feet.
To summarize, the toy box in the shape of a rectangular prism has a Width of 8 feet, a Length of 16 feet, and a Height of 7 feet to hold a total of 36 cubic feet.
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SOMEONE HELP I WILL GIVE U BRAINLEST PLS 1-10
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
Answer:
Step-by-step explanation:
what are the appropriate measures of relative standing for ordinal data? percentiles and quartiles quartiles none
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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how many feet are in 300.0 inches? type in your numerical answer only, do not include units. do not use scientific notation.
There are 25 feet in 300.0 inches.
What is conversion?Conversion is a numerical quantity that enables you to convert one unit to another. There are various units for measurements such as length, weight, mass, and so on.
The conversion factor between inches and feet is important to understand when performing this type of calculation. As I mentioned earlier, there are 12 inches in one foot, which can be expressed as:
1 foot = 12 inches
This means that to convert a measurement in inches to feet, we need to divide the number of inches by 12.
300.0/12 = 25
Therefore, 300.0 inches is equivalent to 25 feet.
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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...
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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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?
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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i need help pleaseee
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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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
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 saltThe 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 nationwide coffee chain is downsizing its branches in six states It has already told the store man
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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Eight avocados cost $4. How much is 1 avocado?
The cost of one avacado is equal to 0.5$ and it is found by the use of division method.
One of the four fundamental mathematical operations, along with addition, subtraction, and multiplication, is division. an a person who knows what I mean by just calling it what they do when they just want to go to the store. Just call it what they call it, whatever ites. Really, whatever it is, these are the same people. It is a mathematical operation used for equal distribution and equal grouping.
One of the fundamental mathematical operations is division, which involves breaking a larger number into smaller groups with the same number of items.
We are given the cost of 8 avacados= $4.
The cost of 1 avacado= 1/8 * 4 = 1/2 = 0.5.
Hence, the cost of one avacado is equal to $0.5.
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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?
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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determine the percentage of children who experience relief for less than four hours if the relief time follows a lognormal distribution.
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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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.
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.
Could someone help me? Please.
The solution of the system of equations is (2, 1).
How to solve the system of equations graphically?Here we have the system of equations:
y = 2x - 3
y = -x + 3
To solve the system of equations graphically, we need to graph both of these lines in the same coordinate axis and then find the point where the lines intersect.
That point will be the solution of the system.
On the image at the end you can see the graph of the system of equations, there we can see that the solution is (2, 1).
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Please help me on a math problem it’s for a grade
Thank You
Answer:
Angle 4 and angle 8 are corresponding angles because they are the same angle on the same side.
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.
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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rent-a-reck incorporated finds that it can rent cars if it charges for a weekend. it estimates that for each price increase it will rent three fewer cars. what price should it charge to maximize its revenue? how many cars will it rent at this price?
Rent-A-Reck Incorporated should charge $95 to maximize its revenue and the company will rent 45 cars at a price of $95.
To determine the price that will maximize Rent-A-Reck Incorporated's revenue, we need to consider the relationship between the price of renting a car and the number of cars that are rented.
Based on the information provided, we know that the demand for rental cars decreases as the price increases. Specifically, for each $5 increase in price, two fewer cars will be rented.
Let's denote the price of renting a car as P and the number of cars rented as Q. Then we can express the relationship between price and quantity as:
Q = 60 - 2(P - 80)/5
This equation tells us that as the price P increases, the number of cars rented Q decreases. We can also use this equation to find the price that will maximize revenue. Revenue is calculated by multiplying the price by the number of cars rented, so we can write the revenue function as:
R = P(Q) * Q
= P * (60 - 2(P - 80)/5)
To find the price that maximizes revenue, we need to find the value of P that makes R as large as possible. One way to do this is to take the derivative of R with respect to P and set it equal to zero:
dR/dP = (60 - 2(P - 80)/5) - 2P/5 = 0
Solving for P, we get:
P = $95
To find the number of cars that will be rented at this price, we can substitute P = $95 into the demand equation:
Q = 60 - 2($95 - $80)/5
= 45
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Complete question is:
Rent-A-Reck Incorporated finds that it can rent 60 cars if it charges $80 for a weekend. It estimates that for each $5 price increase it will rent two fewer cars. What price should it charge to maximize its revenue? How many cars will it rent at this price?
54 is what percent of 90? Question 9 options: 60% 65% 55% 52%
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]
What is the MAD of 12, 10, 12, 6, 8, 4, 2, 12,
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.
Leveled Practice In 7-12, find the area of each trapezoid or kite.
7.
6 cms
21 cm
A=
8 cm
Trapezoid:
9 cm
+
+
Each triangle:
A = 2bh
D D
11
11
12
cm2
X
]
cm²
x8
Rectangle:
A = tw
=
x8
cm²
Mul
Thus, the area of the given shape of trapezoid is obtained as: 120 sq. ft.
What is meant by shape of trapezoid?Rectangle, rhombus, and square are the names given to parallelograms with particular characteristics like right angles as well as all congruent sides (or both).
The second set of parallel sides, that transforms a specific trapezium into a parallelogram, is the only unique characteristic of a trapezium that is given its own distinguishing name. Similar to how triangles with two equivalent sides (other than the base) are referred to as isosceles triangles, the term "isosceles trapezium" is used to describe a trapezium when two sides (as well as their bases) are the same length.Area of trapezoid = 1/2 * (sum of parallel sides) * height
Area of trapezoid = 1/2 * (21 + 9) *8
Area of trapezoid = 120 sq. ft.
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The directions and example is in the photo, I really need help with this stuff
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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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?
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
he tapes the edge with special tape.how much tape will each coaster required
Answer: 5% Of Tape
there is going to be 5% of tape for the coaster
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.
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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