- Read (carefully) sections 11.1 and 11.2 of chapter 11
- Revise Tim’s Retirement Plan to take probabilities into account.
- Assume the salary increase will have a normal distribution with a mean of 4% and a standard distribution of 1%
- Assume the annual rate of return will follow at table as follows
- 10% chance it will be 2%
- 20% chance it will be 3%
- 40% chance it will be 4%
- 20% chance it will be 5%
- 10% chance it will be 6%
- Assume he will contribute between a random uniform distribution between a minimum of 4% and a maximum of 8%
- Run 1000 simulations
- Prepare a Summary statistics for the amount Tim will have at retirement age of 65
- Prepare a bin covering the max and min of the amount Tim could have at 65
- Prepare a chart ( histogram) showing the frequencies of the amounts in each bin.
Will Tim reach his retirement goal? And if not, what recommendations could you offer
an Educator, I believe in order for me to implement my philosophies of Multicultural Education onto students, I would need to remember that each student is different, which makes them unique. Therefore, my teaching practices should be unique as well. Students cannot be categorized into a singular category. To further their education as an Educator, I believe I should have a well-developed understanding of what diversity is and the effects of diversity within the classroom, as well as an understanding of the crucial race theory, resistance theory, and the cultural difference theory. My teaching methods will reflect the teaching method of Epistemological philosophy and its processes. Epistemology is the study of the nature and scope of knowledge and justified belief (Truncellito, D. A., 2014). It assesses the nature of knowledge and how it relates to similar notions like truth, belief, and rationale. Additionally, it addresses the way of production of knowledge, as well as skepticism about different knowledge claims (Truncellito, D. A., 2014). I believe there is enormous amount of power in hands-on learning and learning through discovery and exploration. Diversity Diversity’s definition means a lot more than just acknowledging a difference in individuals (Gilbertson, G. 2016). Diversity is a set of methods that involve recognizing and enjoying interdependence of humankind, cultures, as well as the environment, practicing mutual respect for experiences and qualities that are very different from our own, recognizing that diversity includes not just ways of being but also ways of knowing (Gilbertson, G. 2016), and understanding that cultural, personal and sociological discrimination creates and sustains statements for a time creating and sustaining disadvantages for many others and construction of alliances across gaps in order that we can interact to eliminate all forms of discrimination especially within the school system (Gilbertson, G. 2016). Diversity includes knowing just how to connect solely to those qualities a>GET ANSWER