Ben bought 1 2/3 pounds of jelly beans and 2 3/8 pounds of jolly ranchers. What are the total pounds of candy that Ben bought?
1 answer:
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Answer:
- <u>The rate of return is 8.15%</u>
- <u>This is a good investment</u>
<u></u>
Explanation:
For the first question, you need to find the rate that makes the present value of a stream of ten constant annual payments of $15,000 equal to the $100,000 investment.
The formula that returns the present value of a constant payment is called the annuity formula and is:
In your problem you know:
- Present value: $100,000
- payment: $15,000
- r: ?
- t: 10
You cannot solve for r directly. You must guess a value and calculate the right side of the equation until to you find the rate that makes it equal to 100,000.
Try 5%:
Then, the rate of return is greater than 5%. After several trials you will find that the rate of return is 8.15%.
Since this rate is higher than 8%, which is what the company requires, this is a good investment.
Answer:
Test statistic is 0.67
Critical value is -2.33
Step-by-step explanation:
Consider the provided information.
The formula for testing a proportion is based on the z statistic.
Were is sample proportion.
hypothesized proportion and n is the smaple space,
Random sample of 100 adults, 12% say that they own a smart watch.
A company claims that less than 10% of adults own a smart watch.
Therefore, n = 100 = 0.12
,
= 0.10
Substitute the respective values in the above formula.
Hence, test statistic = 0.67
This is the left tailed test.
Now using the table the P value is:
P(z < 0.667) = 0.7476
P-value = 0.7476
Here, P-value > α therefore, we are fail to reject the null hypothesis.
Hence, Critical value is -2.33