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Lubov Fominskaja [6]
3 years ago
9

A simple random sample of 90 is drawn from a normally distributed population, and the mean is found to be 138, with a standard d

eviation of 34. What is the 90% confidence interval for the population mean? Use the table below to help you answer the question.
Mathematics
2 answers:
Naddik [55]3 years ago
8 0
The critical values for a 90% confidence interval are approximately \pm1.645, so the confidence interval in this case is roughly

138\pm1.645\dfrac{34}{\sqrt{90}}=(132.1,143.9)
Eva8 [605]3 years ago
7 0

Answer:

Step-by-step explanation:

Given that A simple random sample of 90 is drawn from a normally distributed population, and the mean is found to be 138, with a standard deviation of 34.

Confidence level = 90%

Z critical value = 1.645

Sample size n=90

Std error of sample = sigma/sqrt n= 34/9.487

=3.583

Margin of error = ±1.645(3.583)=5.895

Hence confidence interval lower bound = 138-5.895 = 132.105

Upper bound = 138+5.895 = 143.895

Hence confidence interval = (132.11, 143.90)

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Clark and Lana take a 30-year home mortgage of $128,000 at 7.8%, compounded monthly. They make their regular monthly payments fo
svp [43]

Answer:

Step-by-step explanation:

From the given information:

The present value of the house = 128000

interest rate compounded monthly r = 7.8% = 0.078

number of months in a year n= 12

duration of time t = 30 years

To find their regular monthly payment, we have:

PV = P \begin {bmatrix}  \dfrac{1 - (1 + \dfrac{r}{n})^{-nt}}{\dfrac{r}{n}}    \end {bmatrix}

128000 = P \begin {bmatrix}  \dfrac{1 - (1 + \dfrac{0.078}{12})^{- 12*30}}{\dfrac{0.078}{12}}    \end {bmatrix}

128000 = 138.914 P

P = 128000/138.914

P = $921.433

∴ Their regular monthly payment P = $921.433

To find the unpaid balance when they begin paying the $1400.

when they begin the payment ,

t = 30 year - 5years

t= 25 years

PV= 921.433 \begin {bmatrix}  \dfrac{1 - (1 - \dfrac{0.078}{12})^{25*30}}{\dfrac{0.078}{12}}    \end {bmatrix}

PV = $121718.2714

C) In order to estimate how many payments of $1400  it will take to pay off the loan, we have:

121718.2714 =  \begin {bmatrix}  \dfrac{1300  (1 - \dfrac{12.078}{12}))^{-nt}}{\dfrac{0.078}{12}}    \end {bmatrix}

121718.2714 = 200000  \begin {bmatrix}  (1 - \dfrac{12.078}{12}))^{-nt}   \end {bmatrix}

\dfrac{121718.2714}{200000 } =  \begin {bmatrix}  (1 - \dfrac{12.078}{12}))^{-nt}   \end {bmatrix}

0.60859 =  \begin {bmatrix}  (1 - \dfrac{12}{12.078}))^{nt}   \end {bmatrix}

0.60859 = (0.006458)^{nt}

nt = \dfrac{0.60859}{0.006458}

nt = 94.238 payments is required to pay off the loan.

How much interest will they save by paying the loan using the number of payments from part (c)?

The total amount of interest payed on $921.433 = 921.433 × 30(12) years

= 331715.88

The total amount paid using 921.433 and 1300 = (921.433 × 60 )+( 1300 + 94.238)

= 177795.38

The amount of interest saved = 331715.88  - 177795.38

The amount of interest saved = $153920.5

6 0
3 years ago
Solve 5x = 2 written a afrction inits simplest form
Elden [556K]

Answer:

x = 2/5

General Formulas and Concepts:

Order of Operations: BPEMDAS

Step-by-step explanation:

<u>Step 1: Write equation</u>

5x = 2

<u>Step 2: Solve for </u><em><u>x</u></em>

  1. Divide both sides by 5:          x = 2/5

<u>Step 3: Check</u>

<em>Plug in x to verify it's a solution</em>.

  1. Substitute:                    5(2/5) = 2
  2. Multiply:                        10/5 = 2
  3. Divide:                           2 = 2
4 0
3 years ago
Ten times the quotient of 104 and 8
GREYUIT [131]
104 ÷ 8 = 13
13 x 10 = 130
Answer: 130

If you need information about the quotient, it is the answer to 2 numbers divided together. For example, the quotient of 999 and 111 is 9, because 999 ÷111 =9
5 0
3 years ago
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the end of the road is 15/16 of a mile away. Luke walked 7/8 of a mile down the road. How much further did he need to walk
AURORKA [14]

Answer:

1/16 of a mile left to walk to reach the end of the road

Step-by-step explanation:

The total distance to be walked = 15/16 miles

already walked= 7/8 miles = 14/16 miles

15/16 - 14/16 = 1/16 miles

4 0
2 years ago
Let the random variable Q represent the number of students who go to a certain teacher's office hour each day. The standard devi
postnew [5]

Answer: А. On average, the number of students going to an office hour varies from the mean by about 2.2 students

Step-by-step explanation:

The standard deviation is a measure of spread, which gives how values deviate from the average or mean value of a particular distribution. Hence, the standard deviation is usually defined about the average value of a distribution.

Therefore, for a certain random variable representing the number of student who visits office hours, the standard deviation will be defined about the average or mean value of the random variable Q.

Thus, stated as ; number of students going to an office hour varies from the mean by 2.2 on average.

4 0
2 years ago
Read 2 more answers
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