You are scheduled to receive $16,500 in three years. when you receive it, you will invest it for nine more years at 9.5 percent
1 answer:
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Using the z-distribution, it is found that the lower bound of the 99% confidence interval is given by:
d. 68.39%.
<h3>What is a confidence interval of proportions?</h3>A confidence interval of proportions is given by:
In which:
is the sample proportion.
- z is the critical value.
- n is the sample size.
In this problem, we have a 99% confidence level, hence, z is the value of Z that has a p-value of
, so the critical value is z = 2.575.
The sample size and estimate are given by:
Hence, the lower bound is given by:
Hence the lower bound is of 68.39%, which means that option D is correct.
More can be learned about the z-distribution at brainly.com/question/25890103
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