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The value would be 829.89.
The formula we use is
,
where A is the total amount, p is the principal, r is the rate expressed as a decimal number, n is the number of times per year the interest is compounded, and t is the number of years.
We will use 800 for p; 5.25/100 = 0.0525 for r; 365 for n; and (255/365) for t (since it is not a full year):
The formula we use is
where A is the total amount, p is the principal, r is the rate expressed as a decimal number, n is the number of times per year the interest is compounded, and t is the number of years.
We will use 800 for p; 5.25/100 = 0.0525 for r; 365 for n; and (255/365) for t (since it is not a full year):
The margin of error for 324 adults surveyed with 1.6 standard deviations is 0.1742.
<h3>What is the margin of error?</h3>The margin of error can be defined as the amount of random sampling error in the results of a survey. It is given by the formula,
= margin of error
= confidence level
= quantile
σ = standard deviation
n = sample size
As it is given that the sample size of the survey is 324, while the standard deviation of the survey is 1.6.
We know that the value of the z for 95% confidence interval is 1.96. Therefore, using the formula of the standard of error we can write it as,
Hence, the margin of error for 324 adults surveyed with 1.6 standard deviations is 0.1742.
Learn more about Margin of Error: