Answer: z score = 0.00714
Step-by-step explanation: the value of test statistics is gotten using the standard normal distribution table.
Z= 2.45 has area to the left (z<2.45) and area to the right (z>2.45).
Level of significance α is the probability of committing a type 1 error. The area under the distribution is known as the rejection region and it is the area towards the right of the distribution.
The table I'm using is towards the left of the distribution.
But z>2.45 + z<2.45 = 1
z> 2.45 = 1 - z<2.45
But z < 2.45 = 0.99286
z > 2.45 = 1 - 0.99286
z >2.45 = 0.00714
Hence the test statistics that would produce the least type 1 error is 0.00714
Answer:
5%
Step-by-step explanation:
The question showing a growing function that commonly used in compound interest calculation. The formula for compound interest is:
A = P (1 +r) ^ t
A= amount of the balance after a period of t
P= principal, the initial money deposit
r= rate
t= time
The percent of balance increase should be represented by the rate(r). In this equation, the principal will be 130, (1+r) will be 1.05, and time will be x.
The value of rate (r) will be:
(1+r) = 1.05
r= 1.05-1= 0.05 = 5%
