Answer:
10.56%
Step-by-step explanation:
Step 1: Use the z formula
The z-formula is
[tex]z=\frac{x-mean}{standard | deviation}[/tex]
[tex]z=\frac{3-4}{0.8} \\\\z=\frac{-1}{0.8} \\\\=-1.25[/tex]
P(z < -1.25)
Step 2: Use a p chart to find -1.25
-1.25 on a p chart is .1056
there is a 10.56% chance that a CD will last less than 3 years.
The answer is 10.56%
