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Simora [160]
3 years ago
10

4400 dollars is placed in an account with an annual interest of 8.25%.How much will be in the account after 29 years

Mathematics
1 answer:
SOVA2 [1]3 years ago
4 0
If interest is compounded annually, the account balance will be
.. 4400*1.0825^29 ≈ 43,839.13 . . . . dollars
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5 0
2 years ago
A simple random sample of size n is drawn from a population that is normally distributed. The sample​ mean, x overbar​, is found
joja [24]

Answer:

(a) 80% confidence interval for the population mean is [109.24 , 116.76].

(b) 80% confidence interval for the population mean is [109.86 , 116.14].

(c) 98% confidence interval for the population mean is [105.56 , 120.44].

(d) No, we could not have computed the confidence intervals in parts​ (a)-(c) if the population had not been normally​ distributed.

Step-by-step explanation:

We are given that a simple random sample of size n is drawn from a population that is normally distributed.

The sample​ mean is found to be 113​ and the sample standard​ deviation is found to be 10.

(a) The sample size given is n = 13.

Firstly, the pivotal quantity for 80% confidence interval for the population mean is given by;

                               P.Q. =  \frac{\bar X-\mu}{\frac{s}{\sqrt{n} } }  ~ t_n_-_1

where, \bar X = sample mean = 113

             s = sample standard​ deviation = 10

             n = sample size = 13

             \mu = population mean

<em>Here for constructing 80% confidence interval we have used One-sample t test statistics as we don't know about population standard deviation.</em>

<u>So, 80% confidence interval for the population mean, </u>\mu<u> is ;</u>

P(-1.356 < t_1_2 < 1.356) = 0.80  {As the critical value of t at 12 degree

                                          of freedom are -1.356 & 1.356 with P = 10%}  

P(-1.356 < \frac{\bar X-\mu}{\frac{s}{\sqrt{n} } } < 1.356) = 0.80

P( -1.356 \times }{\frac{s}{\sqrt{n} } } < {\bar X-\mu} < 1.356 \times }{\frac{s}{\sqrt{n} } } ) = 0.80

P( \bar X-1.356 \times }{\frac{s}{\sqrt{n} } } < \mu < \bar X+1.356 \times }{\frac{s}{\sqrt{n} } } ) = 0.80

<u>80% confidence interval for </u>\mu = [ \bar X-1.356 \times }{\frac{s}{\sqrt{n} } } , \bar X+1.356 \times }{\frac{s}{\sqrt{n} } }]

                                           = [ 113-1.356 \times }{\frac{10}{\sqrt{13} } } , 113+1.356 \times }{\frac{10}{\sqrt{13} } } ]

                                           = [109.24 , 116.76]

Therefore, 80% confidence interval for the population mean is [109.24 , 116.76].

(b) Now, the sample size has been changed to 18, i.e; n = 18.

So, the critical values of t at 17 degree of freedom would now be -1.333 & 1.333 with P = 10%.

<u>80% confidence interval for </u>\mu = [ \bar X-1.333 \times }{\frac{s}{\sqrt{n} } } , \bar X+1.333 \times }{\frac{s}{\sqrt{n} } }]

                                              = [ 113-1.333 \times }{\frac{10}{\sqrt{18} } } , 113+1.333 \times }{\frac{10}{\sqrt{18} } } ]

                                               = [109.86 , 116.14]

Therefore, 80% confidence interval for the population mean is [109.86 , 116.14].

(c) Now, we have to construct 98% confidence interval with sample size, n = 13.

So, the critical values of t at 12 degree of freedom would now be -2.681 & 2.681 with P = 1%.

<u>98% confidence interval for </u>\mu = [ \bar X-2.681 \times }{\frac{s}{\sqrt{n} } } , \bar X+2.681 \times }{\frac{s}{\sqrt{n} } }]

                                              = [ 113-2.681 \times }{\frac{10}{\sqrt{13} } } , 113+2.681 \times }{\frac{10}{\sqrt{13} } } ]

                                               = [105.56 , 120.44]

Therefore, 98% confidence interval for the population mean is [105.56 , 120.44].

(d) No, we could not have computed the confidence intervals in parts​ (a)-(c) if the population had not been normally​ distributed because t test statistics is used only when the data follows normal distribution.

6 0
3 years ago
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