Answer:
The annual interest rate is 12.05%.
Step-by-step explanation:
The simple interest is given by the formula:
Where I denotes interest.
P denotes the principal amount.
R denotes the rate of interest
and T denotes the time period.
I=$160.67, P=$2000, t=8 months=8/12 years (Since 12 months=1 year so 1 month=1/12 year)
Hence, the annual interest rate is 12.05%.
Answer:
The null hypothesis is .
The alternative hypothesis is
Step-by-step explanation:
Suppose that a recent article stated that the mean time spent in jail by a first-time convicted burglar is 2.5 years.
At the null hypothesis, we test if the mean is of 2.5 years, that is:
A study was then done to see if the mean time has increased in the new century.
At the alternative hypothesis, we test if the mean has increased, that is, if it is above 2.5 years. So
Given:
The equation is
To find:
The value of b.
Solution:
We have,
Subtracting both sides by , we get
Therefore, the value of b is .