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Vladimir [108]
2 years ago
15

Joley is opening her first checking account as a teenager. She doesn’t have a job, so most of the income will be presents from b

irthdays and holidays. Bank A has a $8 monthly charge. Bank B charges 2% of the balance. Which account balance below will result in bank B being a better financial choice?
A. $300

B. $450

C. $800

D. $900
Mathematics
1 answer:
Stella [2.4K]2 years ago
3 0
The answer is A. The reason for this is because 2% of $300 is $6. Since 6 is less than 8, the answer is A.
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Answer:

t=\frac{\bar d -0}{\frac{s_d}{\sqrt{n}}}=\frac{0.983 -0}{\frac{1.685}{\sqrt{12}}}=2.021

df=n-1=12-1=11

p_v =P(t_{(11)}>2.021) =0.0342

If we compare the the p value with the significance level provided \alpha=0.1, we see that p_v < \alpha, so then we can reject the null hypothesis. and there is a significant increase in the miles per gallon from 2017 to 2019 at 10% of significance.

Step-by-step explanation:

Previous concepts

A paired t-test is used to compare two population means where you have two samples in  which observations in one sample can be paired with observations in the other sample. For example  if we have Before-and-after observations (This problem) we can use it.  

Let put some notation :

x=test value 2017 , y = test value 2019

x: 28.7 32.1 29.6 30.5 31.9 30.9 32.3 33.1 29.6 30.8 31.1 31.6

y: 31.1 32.4 31.3 33.5 31.7 32.0 31.8 29.9 31.0 32.8 32.7 33.8

Solution to the problem

The system of hypothesis for this case are:

Null hypothesis: \mu_y- \mu_x \leq 0

Alternative hypothesis: \mu_y -\mu_x >0

Because if we have an improvement we expect that the values for 2019 would be higher compared with the values for 2017

The first step is calculate the difference d_i=y_i-x_i and we obtain this:

d: 2.4, 0.3, 1.7,3,-0.2, 1.1, -0.5, -3.2, 1.4, 2, 1.6, 2.2

The second step is calculate the mean difference  

\bar d= \frac{\sum_{i=1}^n d_i}{n}= \frac{11.8}{12}=0.983

The third step would be calculate the standard deviation for the differences, and we got:

s_d =\frac{\sum_{i=1}^n (d_i -\bar d)^2}{n-1} =1.685

We assume that the true difference follows a normal distribution. The 4th step is calculate the statistic given by :

t=\frac{\bar d -0}{\frac{s_d}{\sqrt{n}}}=\frac{0.983 -0}{\frac{1.685}{\sqrt{12}}}=2.021

The next step is calculate the degrees of freedom given by:

df=n-1=12-1=11

Now we can calculate the p value, since we have a right tailed test the p value is given by:

p_v =P(t_{(11)}>2.021) =0.0342

If we compare the the p value with the significance level provided \alpha=0.1, we see that p_v < \alpha, so then we can reject the null hypothesis. and there is a significant increase in the miles per gallon from 2017 to 2019 at 10% of significance.

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