2. Suppose that someone takes out a loan for a new car for $25, 000. The annual interest rate is 3% and is compounded monthly. The monthly payment is $300. Let dn denote the amount owed at the end of the nth month. The payments start in the first month and are due the last day of every month. (a) Give a recurrence relation for dn. Don't forget the base case. (b) Suppose that the borrower would like a lower monthly payment. How large does the monthly payment need to be in order to ensure that the amount owed decreases every month?
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
Discrete math
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