Answer:
Amount ($451.9), Interest ($51.9)
Step-by-step explanation:
We need to use the formula of A = P(1 + )^n*t
A = Total Amount
P = Principle/Deposited money
R = Annual Interest Rate
N = Number of times compounder per year
T = time in years
We have P = $400, r = 2.47%, n = 1 and t = 5 years.
Now lets plug it all in!
A = 451.9
Now we need to find the interest...
We will use A = P + I since A is 451.9 and P = 400
451.9 = 400 + I
I = 451.9 - 400
I = 51.9
Answer:
It has millions of tickets. On each ticket is written a number a dollar amount. The exact average and SD are unknown but are estimated from the sample to be $20,000 and $5,000 respectively.
Step-by-step explanation:
Given that:
sample size n = 1600
sample mean = 20000
standard deviation = 5000
The objective is to choose from the given option about what most closely resembles the relevant box model.
The correct answer is:
It has millions of tickets. On each ticket is written a number a dollar amount. The exact average and SD are unknown but are estimated from the sample to be $20,000 and $5,000 respectively.
However, if draws are made without replacement, the best estimate of the average amount for the bride will be $20,000
Similarly, the standard error for the sample mean =
the standard error for the sample mean = 125