You have been asked to build a scale model of your school out of toothpicks. Imagine your school is 30 feet tall. Your scale is
1 answer:
You might be interested in
The confidence interval is 
.
We first find the mean. Add together all of the data points and divide by 6, the number of data points; the mean is 77.28.
Next we find the standard deviation. Find the difference between each data point and the mean; square it; find the sum; divide by the number of data points; take the square root. The standard deviation is 3.32.
To find the margin of error, we calculate the z-score associated with this level of confidence. 100-90 = 10% = 0.1; 0.1/2 = 0.05; 1-0.05 = 0.95. Using a z-table (http://www.z-table.com) we see that this is between two scores, 1.64 and 1.65; we will use 1.645.
The margin of error is given by
z * (σ/√n) = 1.645*(3.32/√6) = 2.23.
Thus the confidence interval is 77.28 +/ 2.23.
We first find the mean. Add together all of the data points and divide by 6, the number of data points; the mean is 77.28.
Next we find the standard deviation. Find the difference between each data point and the mean; square it; find the sum; divide by the number of data points; take the square root. The standard deviation is 3.32.
To find the margin of error, we calculate the z-score associated with this level of confidence. 100-90 = 10% = 0.1; 0.1/2 = 0.05; 1-0.05 = 0.95. Using a z-table (http://www.z-table.com) we see that this is between two scores, 1.64 and 1.65; we will use 1.645.
The margin of error is given by
z * (σ/√n) = 1.645*(3.32/√6) = 2.23.
Thus the confidence interval is 77.28 +/ 2.23.
Given
The average daily balance is $15
The daily periodic rate = 0.06%
The number of days in the cycle is 30
Find out the monthly finance charge.
To proof
Let us assume that the monthly finance charge = x
As given in the question
The average daily balance = $15
daily periodic rate = 0.06%,
First convert 0.06% in decimal form
= 0.0006
Daily finance charge = 0.0006 × 15
= 0.009
number of days in the cycle is 30
now
monthly finance charge
Than the equation becomes
x = 15 × 0.0006 × 30
x = 0.009× 30
x = $0.27
Thus the monthly finance charge is $0.27
Hence proved