A book store is having a 30% off sale. Diary of a Wimpy Kid books are now $6.30 each. What was the original price of the books?
1 answer:
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Answer:
The 95% confidence interval estimate of the population mean rating for Miami is (6.0, 7.5).
Step-by-step explanation:
The (1 - <em>α</em>)% confidence interval for the population mean, when the population standard deviation is not provided is:
The sample selected is of size, <em>n</em> = 50.
The critical value of <em>t</em> for 95% confidence level and (<em>n</em> - 1) = 49 degrees of freedom is:
*Use a <em>t</em>-table.
Compute the sample mean and sample standard deviation as follows:
Compute the 95% confidence interval estimate of the population mean rating for Miami as follows:
Thus, the 95% confidence interval estimate of the population mean rating for Miami is (6.0, 7.5).
Answer:
27 years
Step-by-step explanation:
The formula for the number of payments can be used:
N = -log(1 +0.05(1 -1000000/65000))/log(1.05) +1 = 27.03
There will be a couple thousand dollars left after the 27th payment.
The winnings will last 27 years.
