In calculating the bank discount when discounting an interest-bearing note, which one of the following is not used in the calcul
1 answer:
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Answer:
EBM = +-54.126
Step-by-step explanation:
In this question we have confidence interval to be 80%
The formula to solve this is in the attachment.
Bar X = 1460
Z-alpha/2 = 1.282
Sd = standard deviation = 198 employees
n = 22 departments
After we have inserted all values in to the formula we have:
1460 +-(1.282*198/√22)
= 1460+-(54.12604)
= (1405.87, 1514.126)
The error bounded mean EBM
= +-z-alpha/2 x (sd/√n)
= 1.282 x 198/√22
= 1.282 x 42.22
EBM = +-54.126
