In addition to his hourly rate, Mr. Smith is paid $2.20 for each watch he fixes. Write an expression for his income if he fixes
2 answers:
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Answer:
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to reject the null hypothesis,and we have enough evidence to conclude that the true mean is significantly lower thn 4.8 at 10% of signficance.
Step-by-step explanation:
Data given and notation
represent the sample mean
represent the population standard deviation
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
z would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to check if thetrue mean is below the specifications, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the sample is > 30 and we know the population deviation so is better apply a z test to compare the actual mean to the reference value, and the statistic is given by:
(1)
z-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
Calculate the statistic
We can replace in formula (1) the info given like this:
P-value
Since is a one sided test the p value would be:
Conclusion
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to reject the null hypothesis,and we have enough evidence to conclude that the true mean is significantly lower thn 4.8 at 10% of signficance.
Answer:
B
Step-by-step explanation:
The amortization period in months is:
30 years * 12 = 360 months
The monthly interest rate would be 5.25%/12 = 0.004375
The payment for monthly mortgage formula would be:
Where
E is the monthly mortgage payment
C is the cost of mortgage, cost is $150,000
r is the monthly rate of interest, which is 0.004375
n is the period, in months, which is 360
Substituting, we get our answer:
So, the correct answer is B
Answer:
A) The model exists: f(x) = -3x^2 +4x -4
Step-by-step explanation:
A quadratic model will always exist for 3 given points, provided they are not on a line. In that case, a linear model is appropriate.
Here, the slope between -1 and 0 is positive, and the slope between 0 and 3 is negative. Thus, we know these points are not collinear, and a model must exist.
The model is most easily found using a quadratic regression tool. Such is shown in the attachment. It tells us that ...
f(x) = -3x^2 +4x -4
