Guided Practice
2 answers:
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Answer:
Javier's parents set aside $1500 when he was born
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this question, we have that:
We have to find P. So
Javier's parents set aside $1500 when he was born
Answer:
n≅376
So sample size is 376.
Step-by-step explanation:
The formula we are going to use is:
where:
n is the sample size
p is the probability of favor
q is the probability of not in favor
E is the Margin of error
z is the distribution
α=1-0.98=0.02
α/2=0.01
From cumulative standard Normal Distribution
p is taken 0.5 for least biased estimate, q=1-p=0.5
n≅376
So sample size is 376
Using pi at 3.14 the answer is 1,017.36