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The population is increasing every year. so we use exponential growth function
Where 'a' is the initial population
r is the rate of increase
x is the years
y is the final population
In 2015, the population of a small town in Florida is 95
Initial population a= 95
r= 15%= 0.15
x = 2023 - 2015 = 8 years
Plug in all the values and find out y
y = 290.607
The population in 2023 is 291
Answer:
It will take 55 years for the account value to reach 38200 dollars
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
.
In this problem, we ahve that:
So
First we find how much we have to earn in interest.
.
How much time to earn this interest?
Rounding up
It will take 55 years for the account value to reach 38200 dollars
Using a t-distribution calculator and finding the p-value, the correct option regarding the conclusion is given by:
a) the p-value is 0.02. We reject h0 at the 5% significance level because the p-value 0.02 is less than 0.05.
<h3>What is the relation between the p-value and the conclusion?</h3>It also involves the significance level, as follows.
- If the p-value is less than the significance level, we reject the null hypothesis
.
- If it is more, we do not reject.
In this problem, a t-distribution calculator for a right-tailed with <em>t = 2.15 and 25 - 1 = 24 df</em> is used to find a p-value of 0.02.
It is less than 0.05, hence option a is correct.
More can be learned about p-values at brainly.com/question/26454209