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Crank
3 years ago
9

An article valued $120 was increased by 12%. determine the new value

Mathematics
2 answers:
Margaret [11]3 years ago
4 0
120×.12 equals 14.4.

14.4 is 12% of 120. And .12 equals 12%

So the problem says increase, so you had $14.4 to 120 and that's your answer, $164.40
KIM [24]3 years ago
3 0
The new value would be $134.40; 1.12 times 120
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Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the pre
choli [55]

Answer:

z=\frac{0.4 -0.48}{\sqrt{\frac{0.48(1-0.48)}{115}}}=-1.717  

p_v =P(z  

So the p value obtained was a very low value and using the significance level given \alpha=0.1 we have p_v so we can conclude that we have enough evidence to reject the null hypothesis, and we can said that at 5% of significance the proportion of people that have traded in their old car is lower than 0.48 or 48%.  

Step-by-step explanation:

Data given and notation

n=115 represent the random sample taken

X=46 represent the number of people that have traded in their old car.

\hat p=\frac{46}{115}=0.4 estimated proportion of people that have traded in their old car

p_o=0.48 is the value that we want to test

\alpha=0.1 represent the significance level

Confidence=90% or 0.9

z would represent the statistic (variable of interest)

p_v represent the p value (variable of interest)  

Concepts and formulas to use  

We need to conduct a hypothesis in order to test the claim that the proportion is less than 0.48.:  

Null hypothesis:p\geq 0.48  

Alternative hypothesis:p < 0.48  

When we conduct a proportion test we need to use the z statistic, and the is given by:  

z=\frac{\hat p -p_o}{\sqrt{\frac{p_o (1-p_o)}{n}}} (1)  

The One-Sample Proportion Test is used to assess whether a population proportion \hat p is significantly different from a hypothesized value p_o.

Calculate the statistic  

Since we have all the info requires we can replace in formula (1) like this:  

z=\frac{0.4 -0.48}{\sqrt{\frac{0.48(1-0.48)}{115}}}=-1.717  

Statistical decision  

It's important to refresh the p value method or p value approach . "This method is about determining "likely" or "unlikely" by determining the probability assuming the null hypothesis were true of observing a more extreme test statistic in the direction of the alternative hypothesis than the one observed". Or in other words is just a method to have an statistical decision to fail to reject or reject the null hypothesis.  

The significance level provided \alpha=0.1. The next step would be calculate the p value for this test.  

Since is a left tailed test the p value would be:  

p_v =P(z  

So the p value obtained was a very low value and using the significance level given \alpha=0.1 we have p_v so we can conclude that we have enough evidence to reject the null hypothesis, and we can said that at 5% of significance the proportion of people that have traded in their old car is lower than 0.48 or 48%.  

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Answer:

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