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inn [45]
3 years ago
6

g In 2017 the average credit score for mortgage loans purchased by Fannie Mae was 745. Recently a sample of 20 mortgages were ra

ndomly selected and it was found that the average credit score was 750 with a sample standard deviation of 25. Assume the data was normally distributed. Compute a 95% confidence interval for the average credit score.
Mathematics
1 answer:
Anvisha [2.4K]3 years ago
7 0

Answer:

The 95% confidence interval for the average credit score is between 697.675 and 802.325

Step-by-step explanation:

We are in posession of the sample standard deviation, so the t-distribution is used to solve this question.

The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. So

df = 20 - 1 = 19

95% confidence interval

Now, we have to find a value of T, which is found looking at the t table, with 19 degrees of freedom(y-axis) and a confidence level of 1 - \frac{1 - 0.95}{2} = 0.975. So we have T = 2.093

The margin of error is:

M = T*s = 2.093*25 = 52.325

In which s is the standard deviation of the sample.

The lower end of the interval is the sample mean subtracted by M. So it is 750 - 52.325 = 697.675

The upper end of the interval is the sample mean added to M. So it is 750 - 52.325 = 802.325

The 95% confidence interval for the average credit score is between 697.675 and 802.325

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The number of visitors to a certain Web site triples every month. The number of visitors is modeled by the expression 900 * 3^m​
kipiarov [429]

Answer:

900\times 3^m = 100

Step-by-step explanation:

The number of visitors is modeled by the expression 900\times 3^m

Where m is the number of months after the number of visitors was measured.

We need to evaluate the above expression for m = -2.

So,

900\times 3^m=900\times 3^{-2}\\\\=900\times \dfrac{1}{3^2}\\\\=900\times \dfrac{1}{9}\\\\=100

At m = -2, the value of the above expression is equal to 100.

5 0
3 years ago
Duke Energy reported that the cost of electricity for an efficient home in a particular neighborhood of Cincinnati, Ohio, was $1
Gnoma [55]

Answer:

Step-by-step explanation:

a. H0: μ ≤ 104 Ha: μ > 104

Assuming the data leads to the rejection of the null hypothesis, we would conclude that there is no sufficient statistical evidence to prove that the cost of electricity for an efficient home in a particular neighborhood of Cincinnati, Ohio, was $104 per month.

b. The type error in this situation would be rejecting the null hypothesis when it is actually true. Rejecting the fact that the cost of electricity for an efficient home in a particular neighborhood of Cincinnati, Ohio, was $104 per month when it was actually true.

c. Type II error in this case would be failing to reject the null when it is false. Failing to reject the fact that the cost of electricity for an efficient home in a particular neighborhood of Cincinnati, Ohio, was $104 per month when it is actually not true.

The consequences for these errors might be disastrous including sueing of the accuser party etc.

8 0
3 years ago
Nick will move a storage bin from its current location to the new location shown on the coordinate plane. Describe how Nick coul
nlexa [21]

Answer:

Move downward by 7 units

Move leftward by 6 units

(x,y) \to (x -6,y-7)

Step-by-step explanation:

Given

See attachment for grid

Required

The transformation from the current location to the new location

To do this, we pick two corresponding points on the current location and the new location.

We have:

A = (3,2) -- Current location

A' = (-6,-5) -- New location

First, move A downwards by 7 units.

The rule to this is:

(x,y) \to (x,y-7)

So, we have:

(3,2) \to (3,2-7)

(3,2) \to (3,-5)

Next, move the above points leftward by 6 units.

The rule to this is:

(x,y) \to (x-6,y)

So, we have:

(3,-5) \to (3-6,-5)

(3,-5) \to (-3,-5)

6 0
3 years ago
What are the domain, range, and asymptote of h(x)= 2^x+4
viktelen [127]

Answer:

Step-by-step explanation:

hello : look this solution

3 0
3 years ago
Read 2 more answers
A quality control expert at Glotech computers wants to test their new monitors. The production manager claims they have a mean l
tankabanditka [31]

Answer:

The probability that the mean monitor life would be greater than 96.3 months in a sample of 84 monitors

P(X⁻ ≥ 96.3) = 0.0087

Step-by-step explanation:

<u><em>Step(i):-</em></u>

Given that the mean of the Population = 95

Given that the standard deviation of the Population = 5

Let 'X' be the random variable in a normal distribution

Let X⁻ = 96.3

Given that the size 'n' = 84 monitors

<u><em>Step(ii):-</em></u>

<u><em>The Empirical rule</em></u>

         Z = \frac{x^{-} -mean}{\frac{S.D}{\sqrt{n} } }

        Z = \frac{96.3 - 95}{\frac{5}{\sqrt{84} } }

       Z = 2.383

The probability that the mean monitor life would be greater than 96.3 months in a sample of 84 monitors

    P(X⁻ ≥ 96.3) = P(Z≥2.383)

                      =  1- P( Z<2.383)

                      =  1-( 0.5 -+A(2.38))

                      = 0.5 - A(2.38)

                     = 0.5 -0.4913

                    = 0.0087

<u><em>Final answer:-</em></u>

The probability that the mean monitor life would be greater than 96.3 months in a sample of 84 monitors

P(X⁻ ≥ 96.3) = 0.0087

3 0
3 years ago
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