-p - 8p - 10 - 8p simply
1 answer:
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Answer:
First of all, this question is not complete. So, we will be hypothetically create two accounts and try to choose the one with the greater profit.
Choice 1 = X = Final Amount after 12 years = $5600
Choice 2 = Y = Final Amount after 12 years = $6285.50
Hence, Lorena should choose choice 2, as it gives more profit over than choice 1.
Step-by-step explanation:
First of all, this question is not complete. So, we will be hypothetically create two accounts and try to choose the one with the greater profit.
Initial Deposit Amount = $3500
Time period = 12 years
Let's Suppose Lorena has two X and Y choices of accounts at H-town Bank.
X = simple interest of 5% over the initial amount for 12 years.
Y = Compound interest 5% over the initial amount for 12 years.
Solution:
Let's calculate the profit for choice 1 = X
Simple interest = 5%
Initial amount = $3500
Time period = 12 years
Formula = A = P (1 + rt)
where, A = Final amount after 12 years
t = time period in years = 12
P = initial amount to be deposited = $3500
r = annual interest rate = 5%
Plug in the values to get the total amount.
A = 3500(1+0.05x12)
A = $5600 = final amount Lorena will get after 12 years.
Let's calculate the profit for choice 2 = Y
Compound interest = 5%
Initial amount = $3500
Time period = 12 years
Formula = A = P
where,
A = Final amount after 12 years
t = time period in years = 12
P = initial amount to be deposited = $3500
r = annual interest rate = 5%
n = number of times interest rate is applied or compounded. = 12
Plug in the values to get the total amount.
A = P
A = $6285.50
Hence, Lorena should choose choice 2, as it gives more profit over than choice 1.
Answer:
The degrees of freedom are given by:
And the p value would be:
Since the p value is lower than the significance level we have enough evidence to conclude that the true mean for this case for the growth rate is less than 2cm per week
Step-by-step explanation:
Information given
represent the sample mean for the growth
represent the sample standard deviation
sample size
represent the value that we want to compare
represent the significance level
t would represent the statistic
represent the p value
System of hypothesis
We need to conduct a hypothesis in order to check if the true mean is less than 2cm per week, the system of hypothesis are :
Null hypothesis:
Alternative hypothesis:
Since we don't know the population deviation the statistic is given by:
(1)
Replacing the info given we got:
The degrees of freedom are given by:
And the p value would be:
Since the p value is lower than the significance level we have enough evidence to conclude that the true mean for this case for the growth rate is less than 2cm per week