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Rudik [331]
3 years ago
11

Construct a 95% confidence interval for the population mean, μ. Assume the population has a normal distribution. A sample of 20

part-time workers had mean annual earnings of $3120 with a standard deviation of $677. Round to the nearest dollar.
Business
1 answer:
miv72 [106K]3 years ago
4 0

Answer: (2823, 3417)

Explanation:

The confidence interval for the population mean is given by :-

\mu\ \pm E, where E is the margin of error.

Formula for Margin of error :-

z_{\alpha/2}\times\dfrac{\sigma}{\sqrt{n}}

Given : Significance level : \alpha=1-0.95=0.05

Sample size = 20

\mu=3120

\sigma=677

Critical value : z_{\alpha/2}=z_{0.025}=\pm1.96

Margin of error : E=1.96\times\dfrac{677}{\sqrt{20}}\approx 297

Now, the 95% confidence interval for the population mean will be :-

3120\ \pm\ 297 =(3120-297\ ,\ 3120+297)=(2823,\ 3417)

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Answer:

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Explanation:

given data

(D1) = $1.80

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growth rate = 9 percent

solution

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Cost of retained earnings =  (1.80 ÷ 36 ) + 0.08

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4 0
3 years ago
Write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card balance within 12 months
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Answer:

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Explanation:

Monthly repayments include the total amount owing on the credit card, plus the interest to be paid. This amount should then be divided into 12 monthly payments in order to get one constant amount to be paid each month for the 12 month period. We will assume there are no other factors affecting the amount, other than interest.  

The formula to calculate the monthly repayments in the credit card is as follows:

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For example, say the amount owing was $100 and the total interest to be paid was $20; the monthly repayment would be calculated as ($100+ $20) / 12 months. This would mean the credit card holder pays $120/12 = $10 per month in order to repay the debt.

6 0
2 years ago
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Executive stock options: Multiple Choice allow the holder the option to buy shares at a specified exercise price during a specif
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Answer:

allow the holder the option to buy shares at a specified exercise price during a specified period of time.

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A primary market refers to the market where these securities that are being sold are issued or created

On the other hand, the secondary market can be defined as a market where various investors sell and buy securities from other investors.

Some examples of secondary market around the world are New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE) and National Stock Exchange (NSE).

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