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3 years ago

find the balance in the account after the given period. $12.000 principal earning 4.8% compounded annually, after 7 years.

Mathematics

1 answer:

Mkey [24]3 years ago

8 0

Fill in the given infomation in the appropriate formula.
A = P(1+r)^t
A = $12,000(1.048)^7 ≈ $16,661.35

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A random sample of 100 people was taken. Eighty of the people in the sample favored Candidate A. We are interested in determinin

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Option b - not significantly greater than 75%.

Step-by-step explanation:

A random sample of 100 people was taken i.e. n=100

Eighty of the people in the sample favored Candidate i.e. x=80

We have used single sample proportion test,

$p=\frac{x}{n}$

$p=\frac{80}{100}$

$p=0.8$

Now we define hypothesis,

Null hypothesis $H_0$ : candidate A is significantly greater than 75%.

Alternative hypothesis $H_1$ : candidate A is not significantly greater than 75%.

Level of significance $\alpha=0.05$

Applying test statistic Z -proportion,

$Z=\frac{\widehat{p}-p_0}{\sqrt{\frac{p_0(1-p_0)}{n}}}$

Where, $\widehat{p}=80\%=0.80$ and $p=75%=0.75$

Substitute the values,

$Z=\frac{0.80-0.75}{\sqrt{\frac{0.75(1-0.75)}{100}}}$

$Z=\frac{0.80-0.75}{\sqrt{\frac{0.1875}{100}}}$

$Z=\frac{0.05}{0.0433}$

$Z=1.1547$

The p-value is

$P(Z>1.1547)=1-P(Z$

$P(Z>1.1547)=1-0.8789$

$P(Z>1.1547)=0.1241$

Now, the p-value is greater than the 0.05.

So we fail to reject the null hypothesis and conclude that the A is not significantly greater than 75%.

Therefore, Option b is correct.

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