You tell me if this makes sense to you.

It's 47 years from 1970 to 2017 so you would need to multiply 7% by the 47 years.

So: 0.07x47= 3.29

Now you should add your new price to your original price: $3.29+$0.35= 3.64

So it should cost $3.64 now. Yes that does seem kind of low but that's how you do it.

I hope this helps :)

6 0

4 years ago

The u.s. dairy industry wants to estimate the mean yearly milk consumption. a sample of 16 people reveals the mean yearly consum

lidiya [134]

1-2. The best estimate for the population mean would be sample mean of 60 gallons. Since we know that the sample mean is the best point of estimate. Since sample size n=16 is less than 25, we use the t distribution. Assume population from normal distribution.

3. Given a=0.1, the t (0.05, df = n – 1 = 15)=1.75

4. xbar ± t*s/vn = 60 ± 1.75*20/4 = ( 51.25, 68.75)

5. Since the interval include 63, it is reasonable.

3 0

3 years ago