A. 18 is 20 percent of what number? B. 15 is 25 percent of what number? C. 12 is 30 percent of what number? D. 24 is 40 percent
1 answer:
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Answer:
The 95% confidence interval for the population mean amount spent on groceries by Connecticut families is ($73.20, $280.21).
Step-by-step explanation:
The data for the amount of money spent weekly on groceries is as follows:
S = {210, 23, 350, 112, 27, 175, 275, 50, 95, 450}
<em>n</em> = 10
Compute the sample mean and sample standard deviation:
It is assumed that the data come from a normal distribution.
Since the population standard deviation is not known, use a <em>t</em> confidence interval.
The critical value of <em>t</em> for 95% confidence level and degrees of freedom = n - 1 = 10 - 1 = 9 is:
*Use a <em>t</em>-table.
Compute the 95% confidence interval for the population mean amount spent on groceries by Connecticut families as follows:
Thus, the 95% confidence interval for the population mean amount spent on groceries by Connecticut families is ($73.20, $280.21).
Answer:
(a) The probability that <em>Y</em>₂₀ exceeds 1000 is 3.91 × 10⁻⁶.
(b) <em>n</em> = 28.09
Step-by-step explanation:
The random variable <em>Y</em>ₙ is defined as the total numbers of dollars paid in <em>n</em> years.
It is provided that <em>Y</em>ₙ can be approximated by a Gaussian distribution, also known as Normal distribution.
The mean and standard deviation of <em>Y</em>ₙ are:
(a)
For <em>n</em> = 20 the mean and standard deviation of <em>Y</em>₂₀ are:
Compute the probability that <em>Y</em>₂₀ exceeds 1000 as follows:
**Use a <em>z </em>table for probability.
Thus, the probability that <em>Y</em>₂₀ exceeds 1000 is 3.91 × 10⁻⁶.
(b)
It is provided that P (<em>Y</em>ₙ > 1000) > 0.99.
The value of <em>z</em> for which P (Z < z) = 0.01 is 2.33.
Compute the value of <em>n</em> as follows:
The last equation is a quadratic equation.
The roots of a quadratic equation are:
a = 16
b = -805.4289
c = 10000
On solving the last equation the value of <em>n</em> = 28.09.