Identify the principal amount, interest rate, and time.
This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.
This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.

ScanSolve AI Answer
Here are the solutions to the questions.
Q(c) Step 1: Identify the principal amount, interest rate, and time. Assuming the loan amount is the cash price of the camera from Q3.b, which is shs. 30,000. Principal () = shs. 30,000 Rate () = 18% p.a. = 0.18 Time () = 2 years
Step 2: Calculate the total amount after 2 years using the compound interest formula .
Step 3: Calculate the total interest paid. The total interest paid by Kangara is shs. 11,772.
Q4. a) Step 1: Identify the class with the highest frequency. From the table, the highest frequency is 30. Step 2: State the corresponding class interval. The class interval corresponding to the frequency of 30 is 40-44 cm. The modal class is 40-44 cm.
Q4. b) i) Step 1: Create a table to calculate midpoints () and . | Height (cm) | Frequency (f) | Midpoint (x) | fx | | :---------- | :------------ | :----------- | :--- | | 20-24 | 2 | 22 | 44 | | 25-29 | 15 | 27 | 405 | | 30-34 | 18 | 32 | 576 | | 35-39 | 25 | 37 | 925 | | 40-44 | 30 | 42 | 1260 | | 45-49 | 6 | 47 | 282 | | 50-54 | 3 | 52 | 156 | | 55-59 | 2 | 57 | 114 | | Total | | | |
Step 2: Calculate the mean height using the formula . Rounded to two decimal places, the mean height is 37.25 cm.
Q4. b) ii) Step 1: Calculate the mean height (already done in Q4. b) i)). Mean height = 37.25 cm.
Step 2: Determine the median class. Total frequency () = 101. The position of the median is . Create a cumulative frequency (CF) column: | Height (cm) | Frequency (f) | Cumulative Frequency (CF) | | :---------- | :------------ | :------------------------ | | 20-24 | 2 | 2 | | 25-29 | 15 | 17 | | 30-34 | 18 | 35 | | 35-39 | 25 | 60 | <-- Median class (CF > 50.5) | 40-44 | 30 | 90 | | 45-49 | 6 | 96 | | 50-54 | 3 | 99 | | 55-59 | 2 | 101 | The median class is 35-39 cm because its cumulative frequency (60) is the first to exceed 50.5.
Step 3: Identify the values for the median formula. Lower boundary of the median class () = 34.5 cm (since the classes are 30-34 and 35-39, the boundary is ). Cumulative frequency before the median class () = 35. Frequency of the median class () = 25. Class width () = cm.
Step 4: Calculate the median height using the formula .
Step 5: Calculate the difference between the mean height and the median height. The difference between the mean height and the median height is 0.35 cm. 3 done, 2 left today. You're making progress.
Get instant step-by-step solutions to any question. Free to start.
Ask Your Question