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aleksklad [387]
3 years ago
15

Millie, Josh and Libby receive a bonus at work. They are paid in the ratio of 2 : 3 : 4.

Mathematics
1 answer:
nadezda [96]3 years ago
4 0
Based on the problem above, the given values are as follows:
2:3:4 = Ratio of Millie, Josh and Libby's bonus
£105=Josh's share of the bonus
?=total amount of the bonus they shared.
In order to get this, we need to solve for Millie's and Libby's bonuses. 
So to get Millie's share:
we do this.
2/3 : x/105. Cross multiply and divide and we get x=70. Therefore, Millie's share is  £70.
Next is Libby's:
3/4 : 105/y. Cross multiply and divide and we get y=140. Therefore, Libby's share is  £140.
Now, add up everything and we get  £315. So the total amount of the bonus before they shared it is  £315.
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Answer:

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\bar X \pm t_{\alpha/2}\frac{s}{\sqrt{n}}   (1)

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Step-by-step explanation:

Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

\bar X represent the sample mean

\mu population mean (variable of interest)

s represent the sample standard deviation

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Solution to the problem

The confidence interval for the mean is given by the following formula:

\bar X \pm t_{\alpha/2}\frac{s}{\sqrt{n}}   (1)

And for this case the 95% confidence interval is given by (2.13; 2.37)

We have a point of estimate for the sample mean with this formula:

\bar X = \frac{Upper+ Lower}{2}= \frac{3.37+2.13}{2}= 2.75

And for the margin of error we have the following estimation:

ME= \frac{Upper -Lower}{2}= \frac{3.37-2.13}{2}= 0.62

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