You would do 18x divide by 2x equals 9x then add 3 and 2 to get 14x
Solution :
It is given that :
(Null hypothesis, is also correct)
(Alternate hypothesis, also called )
This is a lower tailed test,
Therefore,
Sample proportion,
= 0.04
And claimed proportion, P = 0.05
Significance level, = 0.01
Therefore, calculating the statistics, we get
Standard deviation of
Test statistic,
Now since this is a lower tailed test, p-value =
Rejection Criteria : Reject if p-value < α .
Conclusion : Since the p-value , we fail to reject the null hypothesis. There is insufficient evidence that p is less than 0.05
We know that area=0.5*base*height.
Thus, the equation would look like:
127.5=0.5*base*height
That means, 255 = base*height.
We know base is 17
Then, we divide 255 by 17. That gets us the height.
The height equals 15.
Let x = Initial Price
If we increase x by 5%, we are adding 0.05x
Therefore, the new price = x + 0.05x = 1.05x
If the ticket has increased by £2.30, £2.30 is 5% of the initial price, or 0.05x
0.05x = 2.30
x = 2.30/0.05
x = 46
Therefore, the price of the ticket before the increase was £46
You can also check this backwards by doing 46*0.05 = 2.30