A sells and article to B at a profit of 10%,B sells it to C for rs577.50 at a profit of 5%.How much did it cost for A?
1 answer:
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Answer:
1.7 × 10⁻⁴
Step-by-step explanation:
The question relates to a two sample z-test for the comparison between the means of the two samples
The null hypothesis is H₀: μ₁ ≤ μ₂
The alternative hypothesis is Hₐ: μ₁ > μ₂
Where;
= 13.5
= 12
σ₁ = 2.5
σ₂ = 1.5
We set our α level at 0.05
Therefore, our critical z = ± 1.96
For n₁ = n₂ = 23, we have;
We reject the null hypothesis at α = 0.05, as our z-value, 3.5969 is larger than the critical z, 1.96 or mathematically, since 3.5969 > 1.96
Therefore, there is enough statistical evidence to suggest that Alyse time is larger than Jocelyn in a 1 mile race on a randomly select day and the probability that Alyse has a larger time than Jocelyn is 0.99983
Therefore;
The probability that Alyse has a smaller time than Jocelyn is 1 - 0.99983 = 0.00017 = 1.7 × 10⁻⁴.