What is the simple interest accumulated on $150 at 3% for 6 years?
2 answers:
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Answer:
Step-by-step explanation:
Data given and notation
n=250 represent the random sample taken
estimated proportion of readers owned a particular make of car
is the value that we want to test
z would represent the statistic (variable of interest)
represent the p value (variable of interest)
Concepts and formulas to use
We need to conduct a hypothesis in order to test the claim that that the percentage is actually different from the reported percentage.:
Null hypothesis:
Alternative hypothesis:
When we conduct a proportion test we need to use the z statistic, and the is given by:
(1)
The One-Sample Proportion Test is used to assess whether a population proportion is significantly different from a hypothesized value
.
Calculate the statistic
Since we have all the info requires we can replace in formula (1) like this: