Answer:
<em>Interest earned </em> = $420
Explanation:
T<em>he total worth of the investment after the the investment period compounded at certain rate is called the Future Value.</em>
Future Value= Principal + compounded interest i.e
FV = P × (1+r)^n
r- rate, FV- future value , n- period
FV = ? , P -1,500, r- 4%, n-7 years
FV = 1,500 ×1.04^(7)
FV = 1973.897669
<em>Interest earned (compound intrest) = FV - Principal amount</em>
= 1973.897669 - 1,500
= $473.89
Without interest earning interest.
The amount of interest earned will be computed on the principal only
Interest earned = $1,500× 4%× 7
= $420
Explanation:
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Check if the website is biased or not
Answer:
a. H0 : U ≥ 15
Ha : U < 15
b. Type I error is incorrectly conclude that the pain is reduced in less than 15 minutes.
c. Type II error is fail to conclude that time for pain reduction is less than 15 mints when actually its less than 15 minutes.
Explanation:
Null hypothesis is a statement that is to be tested against the alternative hypothesis and then decision is taken whether to accept or reject the null hypothesis.
Type I error is one in which we reject a true null hypothesis.
Type II error is one in which we fail to reject the null hypothesis that is actually false.
