Assuming that he doesn't pay taxes on what he owes, then his remaining balance to pay is $819.48. I hope this helped.
Answer:
1. a. z test for means and t test for means.
2. C. HA : mu1 - mu2 > 0
Step-by-step explanation:
Hypothesis testing is used in a situation where there are more than 1 alternative available. The t test is conducted in the mean which determines the t value and then this value is compared with p value to identify the situation whether to accept or reject the null hypothesis. The alternative hypothesis in this situation is is represented by mu.
Answer:
We <em>fail to reject H₀ </em>as there is insufficient evidence at 0.5% level of significance to conclude that the mean hours of TV watched per day differs from the claim.
Step-by-step explanation:
This is a two-tailed test.
We first need to calculate the test statistic. The test statistic is calculated as follows:
Z_calc = X - μ₀ / (s /√n)
where
- X is the mean number of hours
- μ₀ is the mean that the sociologist claims is true
- s is the standard deviation
- n is the sample size
Therefore,
Z_calc = (3.02 - 3) / (2.64 /√(1326))
= 0.2759
Now we have to calculate the z-value. The z-value is calculated as follows:
z_α/2 = z_(0.05/2) = z_0.025
Using the p-value method:
P = 1 - α/2
= 1 - 0.025
= 0.975
Thus, using the positive z-table, you will find that the z-value is
1.96.
Therefore, we reject H₀ if | Z_calc | > z_(α/2)
Thus, since
| Z_calc | < 1.96, we <em>fail to reject H₀ </em>as there is insufficient evidence at 0.5% level of significance to conclude that the mean hours of TV watched per day differs from the claim.
Answer:
The total amount accrued, principal plus interest, from compound interest on an original principal of $ 2600 at a rate of 7% per year compounded 1 time per year over 13 years is $ 6266.
Step-by-step explanation:
Given
Principle P = $2600
Interest rate r = 7% = 0.07
Time period t = 13 years
Compounded annually means: n = 1
To determine
Accrued Amount = ?
Using the formula
substituting P = 2600, r = 0.07, t = 13, n = 1
$
Therefore, the total amount accrued, principal plus interest, from compound interest on an original principal of $ 2600 at a rate of 7% per year compounded 1 time per year over 13 years is $ 6266.
