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Veronika [31]
3 years ago
9

Jamal needs to contribute $4,050 towards his first year of college. If he has 1 year to save and $1,000 in his savings account a

lready, how much money does he need to save each month to his expenses covered?
Mathematics
1 answer:
Genrish500 [490]3 years ago
4 0

Answer:

Jamal needs to save $254.17 each month to cover his expenses.

Step-by-step explanation:

We know that there are 12 months in a year, and Jamal already has $1,000 towards college. Jamal still needs to save $3,050 more dollars because: 4,050 - 1,000 = 3,050. Next, we take how much he has yet to pay ($3,050) divided by how many months in 1 year (12), and that gives us 254.17 per month.

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A business school has a goal that the average number of years of work experience of its MBA applicants is more than three years.
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Answer:

z=\frac{3.1-3}{\frac{2.449}{\sqrt{47}}}=0.280    

p_v =P(z>0.280)=0.390  

If we compare the p value and the significance level assumed \alpha=0.01 we see that p_v>\alpha so we can conclude that we have enough evidence to fail reject the null hypothesis, so we can't conclude that the height of men actually its NOT significant higher than 0.3 at 1% of signficance.  

Step-by-step explanation:

Data given and notation  

\bar X=3.1 represent the sample mean

\sigma=\sqrt{6} represent the sample standard deviation for the sample

n=47 sample size  

\mu_o =3 represent the value that we want to test

\alpha represent the significance level for the hypothesis test.  

t would represent the statistic (variable of interest)  

p_v 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 higher than 3, the system of hypothesis would be:  

Null hypothesis:\mu \leq 3  

Alternative hypothesis:\mu > 3  

If we analyze the size for the sample is > 30 and we know the population deviation so is better apply a z test to compare the actual mean to the reference value, and the statistic is given by:  

z=\frac{\bar X-\mu_o}{\frac{\sigma}{\sqrt{n}}}  (1)  

z-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:  

z=\frac{3.1-3}{\frac{2.449}{\sqrt{47}}}=0.280    

P-value

Since is a one side test the p value would be:  

p_v =P(z>0.280)=0.390  

Conclusion  

If we compare the p value and the significance level assumed \alpha=0.01 we see that p_v>\alpha so we can conclude that we have enough evidence to fail reject the null hypothesis, so we can't conclude that the height of men actually its NOT significant higher than 0.3 at 1% of signficance.  

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