In part a and in part b, use each of the digits 2, 3, and 4 exactly once.
2 answers:
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Answer:
Step-by-step explanation:
The future value formula is FV=PV(1+i)^n, where the present value PV increases for each period into the future by a factor of 1 + i. value PV increases for each period into the future by a factor of 1 + i.
fv = future value
pv = present value
r = annual interest rate ( decimal number)
n= period
<h3>Answer: 8.323 (approximate)</h3>
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Explanation:
s = 32 = sample standard deviation
n = 40 = sample size
Despite not knowing the population standard deviation (sigma), we can still use the Z distribution because n > 30. When n is this large, the student T distribution is approximately the same (more or less) compared to the standard Z distribution. The Z distribution is nicer to work with.
At 90% confidence, the z critical value is roughly z = 1.645. This can be found using either a Z table or a calculator.
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We have these values:
- z = 1.645 (approximate)
- s = 32
- n = 40
Plug these values into the margin of error formula.
The margin of error is roughly 8.323
I rounded to 3 decimal places because z = 1.645 is rounded to 3 decimal places. If your teacher wants some other level of precision, then be sure to follow those instructions.