How many monthly payments must be made for a 2 1/2 year loan?
2 answers:
Answer:
30 monthly payments.
Step-by-step explanation:
We are asked to find the number of monthly payments made for a 2 1/2 year loan.
We know that one year equals 12 months, so 2 years would be 2 times 12 months, that is:
The number of months in half year would be half of 12 that is months.
Since 2 1/2 year equals 30 months, therefore, 30 monthly payments must be made for a 2 1/2 year loan.
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Answer:
There is enough evidence to support the claim that the batteries power the laptops for significantly less than 4 hours. (P-value = 0).
The null and alternative hypothesis are:
Step-by-step explanation:
<em>The question is incomplete: To test this claim a sample or population standard deviation is needed.</em>
<em>We will estimate that the sample standard deviation is 2 hours, and use a t-test to test that claim.</em>
<em> NOTE (after solving): The difference between the sample mean and the mean of the null hypothesis is big enough to reject the null hypothesis, even when we have a sample standard deviation of 3.5 hours, which can be considered bigger than the maximum standard deviation for the sample.</em>
This is a hypothesis test for the population mean.
The claim is that the batteries power the laptops for significantly less than 4 hours.
Then, the null and alternative hypothesis are:
The significance level is 0.05.
The sample has a size n=500.
The sample mean is M=3.5.
As the standard deviation of the population is not known, we estimate it with the sample standard deviation, that has a value of s=2.
The estimated standard error of the mean is computed using the formula:
Then, we can calculate the t-statistic as:
The degrees of freedom for this sample size are:
This test is a left-tailed test, with 499 degrees of freedom and t=-5.5902, so the P-value for this test is calculated as (using a t-table):
As the P-value (0) is smaller than the significance level (0.05), the effect is significant.
The null hypothesis is rejected.
There is enough evidence to support the claim that the batteries power the laptops for significantly less than 4 hours.