I need help please?!!!!

A survey was conducted to determine the average age at which college seniors hope to retire in a simple random sample of 101 sen

tatyana61 [14]

Answer:

96% confidence interval for desired retirement age of all college students is [54.30 , 55.70].

Step-by-step explanation:

We are given that a survey was conducted to determine the average age at which college seniors hope to retire in a simple random sample of 101 seniors, 55 was the average desired retirement age, with a standard deviation of 3.4 years.

Firstly, the Pivotal quantity for 96% confidence interval for the population mean is given by;

P.Q. = $\frac{\bar X-\mu}{\frac{s}{\sqrt{n} } }$ ~ $t_n_-_1$

where, $\bar X$ = sample average desired retirement age = 55 years

$\sigma$ = sample standard deviation = 3.4 years

n = sample of seniors = 101

$\mu$ = true mean retirement age of all college students

<em>Here for constructing 96% confidence interval we have used One-sample t test statistics as we don't know about population standard deviation.</em>

<u>So, 96% confidence interval for the population mean, </u> $\mu$ <u> is ;</u>

P(-2.114 < $t_1_0_0$ < 2.114) = 0.96 {As the critical value of t at 100 degree

of freedom are -2.114 & 2.114 with P = 2%}

P(-2.114 < $\frac{\bar X-\mu}{\frac{s}{\sqrt{n} } }$ < 2.114) = 0.96

P( $-2.114 \times {\frac{s}{\sqrt{n} } }$ < ${\bar X-\mu}$ < $2.114 \times {\frac{s}{\sqrt{n} } }$ ) = 0.96

P( $\bar X-2.114 \times {\frac{s}{\sqrt{n} } }$ < $\mu$ < $\bar X+2.114 \times {\frac{s}{\sqrt{n} } }$ ) = 0.96

<u>96% confidence interval for</u> $\mu$ = [ $\bar X-2.114 \times {\frac{s}{\sqrt{n} } }$ , $\bar X+2.114 \times {\frac{s}{\sqrt{n} } }$ ]

= [ $55-2.114 \times {\frac{3.4}{\sqrt{101} } }$ , $55+2.114 \times {\frac{3.4}{\sqrt{101} } }$ ]

= [54.30 , 55.70]

Therefore, 96% confidence interval for desired retirement age of all college students is [54.30 , 55.70].

7 0

3 years ago

Somebody help plz how can i solve the following equations of 6v+3=21

IrinaK [193]

21-3= 18 and 18 divided by 6 equals 3 so v=3

6 0

3 years ago

You and a friend play a game where you each toss a balanced coin. If the upper faces on the coins are both tails, you win $2; if

Kipish [7]

Answer:

E(Y) = $0.5

Var(Y) = 14.25

you should pay the same amount $0.5

Step-by-step explanation:

E(Y) = = Σ(YP)

P = probability of each outcomes.

Var(Y) = Σ $Y^{2}$ p − (μ x μ)

E(Y) = (2 x 0.25) +(6 x 0.25) + (0.5 x (-3)) = $0.5

Var(Y) = ( $2^{2}\\$ x 0.25) + ( $6^{2}$ x 0.25) +( $-3^{2}$ x 0.5) - ( $0.5^{2}$ )

= 14.5 - 0.25

Var(Y) = 14.25

for the difference between the payoff and cost of playing to have mean 0, you should pay the same amount $0.5

3 0

3 years ago

You plan to borrow $36,500 at a 7.7% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year p

erma4kov [3.2K]

The amount of interest you would be paying in Year 2 is: $2,492.62.

<h3>Interest</h3>

First step is to calculate the Equal Monthly Payment

Equal Monthly Payment=P×r×(1+r)^t/(1+r)^t-1

Where:

P=Principal=$36,500

r=Rate=7.7%

t=Time=7 years

Equal Monthly Payment=36,500×0.077×(1+0.077)^7÷(1+0.077)^7-1

Equal Monthly Payment=36,500×0.077×(1.077)^7÷(1.077)^7-1

Equal Monthly Payment=36,500×0.077×1.6807763÷1.6807763-1

Equal Monthly Payment=4,723.82/0.6807763

Equal Monthly Payment=$6,938.875

Second step is to calculate Year 1 Closing balance

Year 1 Closing balance = Beginning balance + Interest - EMI Payment

Year 1 Closing balance= $36,500 +($36,500×7.7%) - $6,938.875

Year 1 Closing balance= $36,500 + $2,810.5 -$6,938.875

Year 1 Closing balance = $32,371.625

Third step is to calculate year 2 interest

Year 2 Interest= $32,371.625×7.7%

Year 2 Interest=$2,492.62

Therefore the amount of interest you would be paying in Year 2 is: $2,492.62.

Learn more about interest here:brainly.com/question/15259578

#SPJ1

8 0

2 years ago

If AB vector =(4 5) and PQ vector=(2p 10) are parallel to each other, find the value of p.

Sedaia [141]

Answer:

Answer:

They both have q+3/2p, so that means that 2PQ=CB and that means they are parallel to each other

Step-by-step explanation:

PQ=PA+QA

PQ=1/2(2q-p)+2/5*5p=q-1/2p+2p=q+3/2p

CB=2q+3p=2(q+3/2p)

Other explanation: It should be written like this PQ=q+3/2p and CB=2q+3p=2(q+3/2p) they are parallel bcs CB=2*PQ.

8 0

3 years ago