What ratios are equivalent to 2 : 7?
2 answers:
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It will take 19 years and 6 months for the account value to reach 2900 dollars
Step-by-step explanation:
Given
Principal amount = 1400 dollars
Rate = 5.5 %
Final value = A = 2900
We have to find t
So,
The formula for simple interest is:
Putting values
Dividing both sides by 0.055
Rounding off to nearest tenth
19.5 years
Hence,
It will take 19 years and 6 months for the account value to reach 2900 dollars
Keywords: Interest, simple interest
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Answer:
Now we can calculate the p value based on the alternative hypothesis with this probability:
The p value is very low compared to the significance level of then we can reject the null hypothesis and we can conclude that the true proportion of people liberal is higher than 0.24
Step-by-step explanation:
Information given
n=200 represent the random sample taken
X=75 represent the number of people Liberal
estimated proportion of people liberal
is the value that we want to test
z would represent the statistic
represent the p value
Hypothesis to test
We want to verify if the true proportion of adults liberal is higher than 0.24:
Null hypothesis:
Alternative hypothesis:
The statistic is given by:
(1)
Replacing the info given we got:
Now we can calculate the p value based on the alternative hypothesis with this probability:
The p value is very low compared to the significance level of then we can reject the null hypothesis and we can conclude that the true proportion of people liberal is higher than 0.24