Determine the money factor for a lease with an interest rate of 9%

0.00375

Step-by-step explanation:

The money factor for a lease is used to determine how much is charged monthly on a lease payment. If the money factor is low, the lease payment is low making it a good transaction but if the money factor is high, the lease payment is also high and this is not desirable. The money factor is given by:

Money factor = Interest rate / 2400

Given an interest rate of 9%, the money factor is calculated as:

Money factor = Interest rate / 2400 = 9% / 2400 = 0.00375

solution:

as, mean is defined as sum of all the observations divided by total number of observations.

and , median is mid value of the data whether arranged in ascending order or descending order.

consider, roadsters:

2,3,4,5,6,7,8,9

mean =

also, median= , because number of observations is even, so median is mean of two mid values.

now, coming to bandits

2,3,4,5,6

mean =  

median = 4, as number of observations is odd.

so, roadsters has greater median as well mean than bandits.

→option a is true about the repairs performed on 2 types of cars:

bandits have lower median and mean than roadsters.

below

step-by-step explanation:

1. 5/1

2. 10/16

3. 90/2

4. 1/20

5. 3/1

6. 14/24

7. 1/4

8. 18/10