Answer:
Step-by-step explanation:
Given that Home sales has 95% confidence interval to estimate the average loss in home value.
a) If std deviation of losses doubles as 3000 from 1500, we have margin of error also increases. Because margin of error
= ±Critical value * Std error
= ±Critical value * Std dev/sqrt n
Hence we find that whenever std deviation increases the margin of error increases, for the same level of confidence.
b) Whenever confidence level increases, critical value increases and as a result margin of error increases. Hence by reducing from 95% to 90% confidence interval would be reduced. True
c) Instead of changing conf level, increasing sample size would give more reliale and accurate results.
9514 1404 393
Answer:
$443.87
Step-by-step explanation:
The amortization formula tells you the payment.
A = P(r/12)/(1 -(1 +r/12)^(-12t))
where P is the loan amount at annual rate r for t years.
A = $29,000(0.0325/12)/(1 -(1 +0.0325/12)^(-72)) = $443.87
The monthly payment will be $443.87.
