3x-5=2x+6 1 -1 11 -11
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Given Information:
Population mean = p = 60% = 0.60
Population size = N = 7400
Sample size = n = 50
Required Information:
Sample mean = μ = ?
standard deviation = σ = ?
Answer:
Sample mean = μ = 0.60
standard deviation = σ = 0.069
Step-by-step explanation:
We know from the central limit theorem, the sampling distribution is approximately normal as long as the expected number of successes and failures are equal or greater than 10
np ≥ 10
50*0.60 ≥ 10
30 ≥ 10 (satisfied)
n(1 - p) ≥ 10
50(1 - 0.60) ≥ 10
50(0.40) ≥ 10
20 ≥ 10 (satisfied)
The mean of the sampling distribution will be same as population mean that is
Sample mean = p = μ = 0.60
The standard deviation for this sampling distribution is given by
Where p is the population mean that is proportion of female students and n is the sample size.
Therefore, the standard deviation of the sampling distribution is 0.069.
<h3>The projected amount the average American spent on health care in 2014 is $ 10075.91</h3>
<em><u>Solution:</u></em>
Given that,
The average American spent $8,508 on health care in 2011
The cost of health care is projected to rise about 5.8% per year for the years 2012-2022
<em><u>The increasing function is given as:</u></em>
Where,
y is future value
a is initial value
r is growth rate in decimal
t is number of years
From given,
a = 8508
t = 2011 to 2014 = 3 years
<em><u>Substituting the values, we get,</u></em>
Thus the projected amount the average American spent on health care in 2014 is $ 10075.91