Heyoo. Hope this helps you understand why is the answer is option 2. If you still don’t understand, feel free to ask for me to further explain. I used two important rules to figure it out (they are included in the picture).
Find the equation of the line ER function represented by the table Below in slope intercept form
1 answer:
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Answer:
The critical value that corresponds to a confidence level of 99% is, 2.58.
Step-by-step explanation:
Consider a random variable <em>X</em> that follows a Binomial distribution with parameters, sample size <em>n </em>and probability of success <em>p</em>.
It is provided that the distribution of proportion of random variable <em>X, </em>, can be approximated by the Normal distribution.
The mean of the distribution of proportion is,
The standard deviation of the distribution of proportion is, .
Then the confidence interval for the population proportion <em>p</em> is:
The confidence level is 99%.
The significance level is:
Compute the critical value as follows:
That is:
Use the <em>z</em>-table for the <em>z-</em>value.
For <em>z</em> = 2.58 the P (Z < z) = 0.995.
And for <em>z</em> = -2.58 the P (Z > z) = 0.005.
Thus, the critical value is, 2.58.
So I am assuming that there is a 20% off sale on an item that is 20$.
Edit: I read the question wrong, the 2nd thing I wrote down is the correct answer, it will be $24 after the markup.
Edit: I read the question wrong, the 2nd thing I wrote down is the correct answer, it will be $24 after the markup.