Ernesto tried to determine the solution for the system of equations using substitution. His work is shown below.
2 answers:
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Answer:
$8,864.73
Step-by-step explanation:
Base amount: $6,000.00
Interest Rate: 5% (yearly)
Effective Annual Rate: 5%
Calculation period: 8 years
Answer:
The p value for this case would be given by:
Since the p value is higher than the significance level provided we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true mean is not significantly less than 20 ounces.
Step-by-step explanation:
Information provided
represent the sample mean
represent the population deviation
sample size
represent the value that we want to test
represent the significance level
z would represent the statistic
represent the p value
Hypothesis to test
We want to test if the true mean is at least 20 ounces, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
The statistic is given by:
(1)
Replacing the info given we got:
The p value for this case would be given by:
Since the p value is higher than the significance level provided we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the true mean is not significantly less than 20 ounces.