Answer:
The principal amont was $35,000
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this problem, we have that:
We want to find P. So
The principal amont was $35,000
Answer:
Step-by-step explanation:
Hello!
You have two populations of interest and want to compare them. If you define the study variables as:
X₁: average hourly wages of an employee of the Downtown store.
n₁= 25
X[bar]₁= $9
S₁= $2
X₂: average hourly wages of an employee of the North Mall store.
n₂= 20
X[bar]₂= $8
S₂= $1
Both samples taken are independent, assuming that both populations are normal and that their population variances are equal I'll use the Student's-t statistic with a pooled sample variance to calculate the Confidence interval:
95% CI for μ₁ - μ₂
(X[bar]₁-X[bar]₂) ±
Sa= 1.64
(9-8)±2.017*
[0.007636;1.9923]
I hope it helps!