Kenji is saving money to buy a new bicycle that costs $125. So far he has saved his weekly allowance of $5 for the past 8 weeks.
1 answer:
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Answer:
$3073.80
Step-by-step explanation:
A suitable calculator can tell you the loan payment will be $526.23 monthly. The same calculator can also tell you the total of 60 payments exceeds the loan amount by $3073.80.
Answer:
We know that the p value is 0.1, and since is a left tailed test would be given by:
And we can find the calculated value using excel or the t table.
If we use the following excel code we got: "=T.INV(0.1,48)"
And the calculated value is
Step-by-step explanation:
State the null and alternative hypotheses to be tested
We need to conduct a hypothesis in order to determine if the true mean is lower than specified valu , the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
Compute the test statistic
We don't know the population deviation, so for this case is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:
(1)
t-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".
We can find the degrees of freedom for this test given by:
We know that the p value is 0.1, and since is a left tailed test would be given by:
And we can find the calculated value using excel or the t table.
If we use the following excel code we got: "=T.INV(0.1,48)"
And the calculated value is