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Answer:
B) A one-sample t-test for population mean would be used.
Step-by-step explanation:
The complete question is shown in the image below.
The marketing executive is interested in comparing the mean number of sales of this year to that of previous year.
The marketing executive already has the value of mean from previous year and uses a sample to calculate the mean and standard deviation of sales for the current year.
Since, data is being collected for one sample only this limits us to chose between one sample test for mean. So now the possible options are one sample t-test for population mean and one sample t-test for population mean.
If we read the statement we can see that we have the value of sample mean and sample standard deviation. Value of population standard deviation is unknown. In cases where value of population standard deviation is not known and sample standard deviation is given, t-test is used.
Therefore, we can conclude that A one-sample t-test for population mean would be used.
Answer:
Total Interest Diane has to pay is $1,745
Step-by-step explanation:
<u>Behind the Excel sheet</u>
Total Number of Days:
It was the sum 2016 + 2017 + 3 months of 2018
19 + 365 + 31 + 28 + 4
<u>Exact Intrest on Loan</u>
the Borrowed Amount is multiplied by Exact Intrest Rate multiplied by Total Number of Days divided by Number of Days in a Year
$30,000 x 0.0475 x (447/365)
