Answer:
The null hypothesis is .
The alternative hypothesis is
Step-by-step explanation:
Suppose that a recent article stated that the mean time spent in jail by a first-time convicted burglar is 2.5 years.
At the null hypothesis, we test if the mean is of 2.5 years, that is:
A study was then done to see if the mean time has increased in the new century.
At the alternative hypothesis, we test if the mean has increased, that is, if it is above 2.5 years. So
Answer:
$1445.11
Step-by-step explanation:
The formula to use would be:
Where
F is the future amount (what we want to find)
P is the present (principal) amount (this is 400)
r is the rate of interest, monthly (1.8% or 0.018)
t is the time in months (6 years = 6 * 12 = 72)
Now substituting, we get:
After 6 years, the CD will be worth $1445.11