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2 years ago

9

Tom Johnson has $600 in his savings account earning 5 3/4% annual interest. After 12 months, and using the simple interest metho

d, what amount of interest will he have earned?

1 answer:

Alborosie2 years ago

3 0

He will earn 287.5 more dolllars from simple intrest.

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2 years ago

Write an expression with parenthesis to represent the quantity: 170 divided by the sum of 25 and 9

zavuch27 [327]

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170/ (25+9)

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3 years ago

What is the converse of the following conditional statement? If x = –10, then x2 = 100

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2 years ago

Read 2 more answers

You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard devia

gtnhenbr [62]

Answer:

$n=(\frac{2.58(58.2)}{1})^2 =22546.82 \approx 22547$

So the answer for this case would be n=22547 rounded up to the nearest integer

Step-by-step explanation:

Let's define some notation

$\bar X$ represent the sample mean

$\mu$ population mean (variable of interest)

$\sigma=58.2$ represent the population standard deviation

n represent the sample size

$ME =1$ represent the margin of error desire

The margin of error is given by this formula:

$ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}$ (a)

And on this case we have that ME =+1 and we are interested in order to find the value of n, if we solve n from equation (a) we got:

$n=(\frac{z_{\alpha/2} \sigma}{ME})^2$ (b)

The critical value for 99% of confidence interval now can be founded using the normal distribution. The significance would be $\alpha=0.01$ and the critical value $z_{\alpha/2}=2.58$ , replacing into formula (b) we got:

$n=(\frac{2.58(58.2)}{1})^2 =22546.82 \approx 22547$

So the answer for this case would be n=22547 rounded up to the nearest integer

3 0

2 years ago