Answer:
$39,851.25
Step-by-step explanation:
If the sales increase at a rate of 9% per year, this means it will be 109% of the previous year's value since 100% + 9% = 109%
109% in decimal form = 109/100 = 1.09
Therefore, the exponential function is:
, where
is the number of years
So when ,
After 8 years, annual sales = $39,851.25
Answer:
The value of the test statistic is 4.70.
Step-by-step explanation:
The hypothesis for this test can be defined as follows:
<em>H</em>₀: Men do not spend more than women on St. Patrick's day, i.e. μ₁ = μ₂.
<em>H</em>ₐ: Men spend more than women on St. Patrick's day, i.e. μ₁ > μ₂.
The population standard deviations are not known.
So a <em>t</em>-distribution will be used to perform the test.
The test statistic for the test of difference between mean is:
Given:
Compute the value of the test statistic as follows:
Thus, the value of the test statistic is 4.70.