Answer:
If we compare the p value and the significance level given 
we see that 
so we can conclude that we have enough evidence to reject the null hypothesis, so we can conclude that the true mean is different from 634 at 10% of signficance.
Step-by-step explanation:
Data given and notation
represent the sample mean
represent the sample standard deviation
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
t would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to check if the mean is different from 634, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the sample is > 30 but we don't know the population deviation so is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
Calculate the statistic
We can replace in formula (1) the info given like this:
P-value
The first step is calculate the degrees of freedom, on this case:
Since is a two sided test the p value would be:
Conclusion
If we compare the p value and the significance level given we see that so we can conclude that we have enough evidence to reject the null hypothesis, so we can conclude that the true mean is different from 634 at 10% of signficance.
950 * .05 = $47.5
550 * .04 = $22
$47.5 + $22 = $69.50 interest earned
answer: amount in 4% account = $550
Answer:
225
Step-by-step explanation:
We can model this question with:
9 = 0.04x
x represents "what number."
0.04x = 9.
Divide 0.04 from both sides
0.04x ÷ 0.04 = 9 ÷ 0.04
9 ÷ 0.04 = 225.
Therefore, 9 is 4% of 225.
You want to get familiar with what the slope-intercept form equation means. even though the discussion board covers some of this... slope-intercept is y = mx + b, and in it, x and y are a point on your graph (x, y), m is the slope, and b is your y-intercept. in word problems, any constant will typically be b.
but, really, to answer this word problem, you don't have to think so hard about y = mx + b. just read the problem and bring your information together:
"the venue will cost $1500 to rent for an evening"
"$25 per person"
so they only gave you two bits of information, and you just have to decide where they fit. if the venue costs $1500 for an evening, that's a fixed cost--the 1500 isn't going to go up or down depending on the number of people at the charity event. it stays. you're paying 1500 regardless, even if 2 people show up. because the discussion board states that b should represent your starting amount, you're automatically $1500 in the hole, because you have to spend that much to get the venue. you will, however, write it as a positive integer, because the question wants you to calculate the total cost, by my understanding--you're adding the cost of the people with the cost of the venue.
$25 is not a fixed amount. if it's $25 per person, then if 2 people come, it costs $50, if 3 people arrive, it costs $75. this cost is dependent upon the number of people, which you can call "x"
with that information, write any other equation you would for a word problem:
y = 25x + 1500
that's your equation, and it just so happens that this equation is in y = mx + b format. the x-value represents the number of people who show up for the charity; the y-value represents the overall cost.
and you need three solutions for this equation--which, luckily, is a quick and easy process!! choose an x-value and solve for y.
y = 25x + 1500
when x = 1...
y = 25(1) + 1500
y = 25 + 1500
y = 1525
ordered pair: (1, 1525)
when x = 2...
y = 25(2) + 1500
y = 50 + 1500
y = 1550
ordered pair: (2, 1550)
when x = 3...
y = 25(3) + 1500
y = 75 + 1500
y = 1575
ordered pair: (3, 1575)
i hope that helped!!
