Simplify and explain how you got the answer:
1 answer:
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Answer:
The upper boundary of the 95% confidence interval for the average unload time is 264.97 minutes
Step-by-step explanation:
We have the standard deviation for the sample, but not for the population, so we use the students t-distribution 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 = 35 - 1 = 35
95% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 34 degrees of freedom(y-axis) and a confidence level of ). So we have T = 2.0322
The margin of error is:
M = T*s = 2.0322*30 = 60.97
The upper end of the interval is the sample mean added to M. So it is 204 + 60.97 = 264.97
The upper boundary of the 95% confidence interval for the average unload time is 264.97 minutes
Answer:
value of buyout is $4185.74
Step-by-step explanation:
given data
car worth = $25077
down payment = $3560
monthly payment = $336 = 336 × 6 = $2016 per semi annually
time = 5 year = 10 half yearly
rate = 4.04 %
to find out
value of final buyout
solution
we know here loan amount will be 25077 - 3560 = $21517
and we find present value first by formula that is
present value =
put here t = 10 and r =
so
present value =
present value = 18089.96
so
loan unpaid amount is here
loan unpaid amount = 21517 - 18089.96
loan unpaid amount = $3427.04
so
now we calculate value of buyout
that is express as
amount = principal ×
amount = 3427.04 ×
amount = 4185.74
so value of buyout is $4185.74