9950x=8650x+250000
Subtract 8650x from both sides
1300x= 250000
A financial analyst wanted to estimate the mean annual return on mutual funds. A random sample of 60 funds' returns shows an average rate of 12%. If the population standard deviation is assumed to be 4%, the 95% confidence interval estimate for the annual return on all mutual funds is
A. 0.037773 to 0.202227
B. 3.7773% to 20.2227%
C. 59.98786% to 61.01214%
D. 51.7773% to 68.2227%
E. 10.988% to 13.012%
Answer: E. 10.988% to 13.012%
Step-by-step explanation:
Given;
Mean x= 12%
Standard deviation r = 4%
Number of samples tested n = 60
Confidence interval is 95%
Z' = t(0.025)= 1.96
Confidence interval = x +/- Z'(r/√n)
= 12% +/- 1.96(4%/√60)
= 12% +/- 0.01214%
Confidence interval= (10.988% to 13.012%)
The first thing any good mathematician does is convert the measurements to the same unit as what the question is asking. In this problem, it states that the pool fills at a rate of 20 cubic meters per hour. Just keep in mind that an hour is 60 minutes.
The next step is to see how many cubic meters will cost $300. This can be done by dividing 300 by 10. This gets you 30 cubic meters of water.
You already know that 60 minutes is 20 cubic meters of water. That leaves the remaining 10 cubic meters of water. By dividing the rate given, you get that 30 minutes is 10 cubic meters of water. Add the 60 and 30 together to get 90 minutes.
It will take 90 minutes for the pump to use $300.