Carly took a $7,000, 3-year loan with an APR of 3.15%.
1 answer:
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Answer:
[3.75 years, 5.45 years]
Step-by-step explanation:
The 90% confidence interval is given by the interval
where
<em> is the sample mean </em>
<em>s is the sample standard deviation </em>
<em>n is the sample size </em>
is the 0.05 (5%) both-sided (**) critical value for <em>the Student's t-distribution with 19 degrees of freedom (sample size -1), which is an approximation to the Normal distribution for small samples (n≤ 30).
</em>
Either by using a table or the computer, we find
and our 90% confidence interval is
(**) 5% of the area to the left of and 5% to right of
for a total of 90% inside the interval
Answer:
Step-by-step explanation:
Move the decimal so there is one non-zero digit to the left of the decimal point. The number of decimal places you move will be the exponent on the
10
10
. If the decimal is being moved to the right, the exponent will be negative. If the decimal is being moved to the left, the exponent will be positive.