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3 years ago

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A certain computer costs $599.00 at Best Buy. On Black Friday, it is on sale for 35% off. What is the price of the computer on b

lack Friday? Please show your work and don’t forget the unit! Please round your answer to the nearest cent

1 answer:

iris [78.8K]3 years ago

7 0

(599 x 35)/100 = $209.65

599 - 209.65 = $389.35

$389.35 is your answer.

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Step-by-step explanation:

1) Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

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2) Solution to the problem

Since the new Confidence is 0.90 or 90%, the value of $\alpha=0.1$ and $\alpha/2 =0.05$ , and we can use excel, a calculator or a table to find the critical value. The excel command would be: "=-NORM.INV(0.05,0,1)".And we see that $z_{\alpha/2}=1.64$

Assuming that the deviation is known we can express the margin of error is given by this formula:

$ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}$ (a)

And on this case we have that ME =\pm 3 and we are interested in order to find the value of n, if we solve n from equation (a) we got:

$n=(\frac{z_{\alpha/2} \sigma}{ME})^2$ (b)

Replacing into formula (b) we got:

$n=(\frac{1.64(14.7)}{3})^2 =64.57 \approx 65$

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