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Mekhanik [1.2K]
2 years ago
8

Thang decided to borrow $5000 from his local bank to help pay for a car. His loan was for 3 years at simple interest rate of 7%.

How much interest will Thang pay?
Mathematics
1 answer:
babunello [35]2 years ago
3 0
7% of 5000 would be 350 
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In a random sample of 80 teenagers, the average number of texts handled in a day is 50. The 96% confidence interval for the mean
Nastasia [14]

Answer:

a) \bar X =\frac{46+54}{2}=50

And the margin of error is given by:

ME= \frac{54-46}{2}= 4

The confidence level is 0.96 and the significance level is \alpha=1-0.96=0.04 and the value of \alpha/2 =0.02 and the margin of error is given by:

ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}

We can calculate the critical value and we got:

z_{\alpha/2} = 2.05

And if we solve for the deviation like this:

\sigma = ME * \frac{\sqrt{n}}{z_{\alpha/2}}

And replacing we got:

\sigma =4 *\frac{\sqrt{80}}{2.05} =17.45

b) ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}=2.05 *\frac{17.45}{\sqrt{160}}=2.828

And as we can see that the margin of error would be lower than the original value of 4, the margin of error would be reduced by a factor \sqrt{2}

Step-by-step explanation:

Previous concepts  

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".  

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".  

\bar X represent the sample mean  

\mu population mean (variable of interest)  

\sigma represent the population standard deviation  

n=80 represent the sample size  

Solution to the problem

Part a

The confidence interval for the mean is given by the following formula:  

\bar X \pm z_{\alpha/2}\frac{\sigma}{\sqrt{n}} (1)  

For this case we can calculate the mean like this:

\bar X =\frac{46+54}{2}=50

And the margin of error is given by:

ME= \frac{54-46}{2}= 4

The confidence level is 0.96 and the significance level is \alpha=1-0.96=0.04 and the value of \alpha/2 =0.02 and the margin of error is given by:

ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}

We can calculate the critical value and we got:

z_{\alpha/2} = 2.05

And if we solve for the deviation like this:

\sigma = ME * \frac{\sqrt{n}}{z_{\alpha/2}}

And replacing we got:

\sigma =4 *\frac{\sqrt{80}}{2.05} =17.45

Part b

For this case is the sample size is doubled the margin of error would be:

ME=z_{\alpha/2}\frac{\sigma}{\sqrt{n}}=2.05 *\frac{17.45}{\sqrt{160}}=2.828

And as we can see that the margin of error would be lower than the original value of 4, the margin of error would be reduced by a factor \sqrt{2}

5 0
2 years ago
Evaluate the expression
Dafna11 [192]

Answer:

9.8

Step-by-step explanation:

-9.5 - -12 plus 7.3 = 9.8

5 0
3 years ago
Read 2 more answers
What Is The Answer<br> 2/3 - 4/12 =
erica [24]
2/3 = 8/12. So the answer is 4/12
8 0
2 years ago
Read 2 more answers
A train leaves San Diego at 1:00 pm. A second train leaves the same city in the same direction at 3:00 pm. The second train trav
Soloha48 [4]

Answer:

The speed of the first train is 45 mph and the speed of the second train is 75 mph

Step-by-step explanation:

Let x represent the speed of the first train in mph. Since the second train, is 30 mph faster then the first, therefore the speed of the second train is (x + 30).

The first train leaves at 1:00 pm, therefore at 6:00 pm, the time taken is 5 hours. Therefore the distance covered by the first train at 6:00 pm = x mph * 5 hours = 5x miles

The second train leaves at 3:00 pm, therefore at 6:00 pm, the time taken is 3 hours. Therefore the distance covered by the second train at 6:00 pm = (x + 30) mph * 3 hours = (3x + 90) miles

Since the second train overtakes the first at 6:00 pm, hence:

3x + 90 = 5x

2x = 90

x = 45

Therefore the speed of the first train is 45 mph and the speed of the second train is 75 mph (45 mph + 30 mph).

7 0
3 years ago
-28-(-16)= What is the answer
Finger [1]

Answer:

-12

Step-by-step explanation:

<u>Step 1:  Find the answer </u>

Subtracting a negative number is same as adding a positive number

-28 - (-16)

-28 + 16

-12

Answer:  -12

3 0
2 years ago
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