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Anit [1.1K]
3 years ago
14

consider the gre scores for a random sample of 6 students out of a class of 25: name julia andrew jason cathy jessica robert sco

re 650 550 380 720 710 550 what is the point estimate for the mean score for students in the class?
Mathematics
1 answer:
Thepotemich [5.8K]3 years ago
6 0
Name  Score
Julia      650
Andrew 550
Jason    380
Cathy    720
Jessica 710
Robert   550

Point estimate for the mean score:
Sample mean = sum of all observations / number of observations

sample mean = (650+550+380+720+710+550) / 6
sample mean = 3560 / 6 
sample mean = 593.33

The point estimate for the mean score is 593.33
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Suppose yoko borrows $3500 at an interest rate of 4% compounded each year Find the amount owed at the end of 1 year
olchik [2.2K]

Amount owed at the end of 1 year is 3640

<h3><u>Solution:</u></h3>

Given that yoko borrows $3500.

Rate of interest charged is 4% compounded each year

Need to determine amount owed at the end of 1 year.

In our case :

Borrowed Amount that is principal P = $3500

Rate of interest r = 4%

Duration = 1 year and as it is compounded yearly, number of times interest calculated in 1 year n = 1

<em><u>Formula for Amount of compounded yearly is as follows:</u></em>

A=p\left(1+\frac{r}{100}\right)^{n}

Where "p" is the principal

"r" is the rate of interest

"n" is the number of years

Substituting the values in above formula we get

\mathrm{A}=3500\left(1+\frac{4}{100}\right)^{1}

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Hence amount owed at the end of 1 year is 3640

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