B+0.17b=1.17b can you please help me on this equation i dont know how to solve it thanks so much❤
1 answer:
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mark must leave it for 5.5 months or 5 and half moths to gain 5600 in interest .
<u>Step-by-step explanation:</u>
Here we have , mark invests 8000 in an account that pays 12% interest and 2000 in one that pays 8%. if he leaves the money in the accounts for the same length of time, We need to find how long must he leave it to gain 5600 in interest . Let's find out:
Let mark invests 8000 in an account that pays 12% interest and 2000 in one that pays 8% for time x months , So total interest gain is 5600 i.e.
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Therefore , mark must leave it for 5.5 months or 5 and half moths to gain 5600 in interest .
Answer:
The new sample size required in order to have the same confidence 95% and reduce the margin of erro to $60 is:
n=28
Step-by-step explanation:
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
Assuming the X follows a normal distribution
And the distribution for is:
We know that the margin of error for a confidence interval is given by:
(1)
The next step would be find the value of ,
and
Using the normal standard table, excel or a calculator we see that:
If we solve for n from formula (1) we got:
And we have everything to replace into the formula:
And this value agrees with the sample size given.
For the case of the problem we ar einterested on Me= $60, and we need to find the new sample size required to mantain the confidence level at 95%. We know that n is given by this formula:
And now we can replace the new value of Me and see what we got, like this:
And if we round up the answer we see that the value of n to ensure the margin of error required $ is n=28.