Suppose a 95% confidence interval for µ turns out to be (1,000, 2,100). To make more
1 answer:
Answer:
A. Increase sample size
Step-by-step explanation:
From the formula for estimating the confidence level interval for the mean:
X - Z × s/sqrt n where; X = sample mean; Z = z value corresponding to 95%;
s = standard deviation and n = sample size
It is evident from the equation that the confidence interval for the mean is inversely proportional to the sample size (n), hence increasing the sample size will result in a reduced interval width.
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Answer:
The monthly mortgage payment is $ 8306.58
Step-by-step explanation:
Given as :
The loan taken as $ 600,000
The rate of interest = 5.5 %
The time period = 30 Years
So, from compounded method
Amount = principal ×
or, Amount = $ 600,000 ×
Or, Amount = $ 600,000 ×
∴ Amount = $ 2990370.77
<u>Now for The monthly mortgage payment </u>
∵ Time period is 30 years
So , 30 years = 12 × 30 = 360 months
∴ Amount payment in monthly =$
Or, Amount payment in monthly =$ 8306.58
Hence The monthly mortgage payment is $ 8306.58 Answer