Answer:
The probability of selecting a sample which doesn't capture the true value of μ would be 10% rather than 5% if they decide to calculate a 90% confidence interval rather than a 95% confidence interval from the sample they will select.
Step-by-step explanation:
The correct answer is the last statement, but first, let's look at the other statements:
<em>Their confidence interval would be less likely to capture the </em><em>sample </em><em>mean.</em>
This statement is not correct because the <em>confidence </em>of a confidence interval gives us the probability of capturing the true value of the population mean.
<em>They would </em><em>decrease </em><em>the margin of error of their confidence interval if they calculated a 90% rather than a 95% confidence interval.</em>
If we want more confidence we must establish more precision, which means more error. In other words if the confidence increases so does the error for a fixed sample size. The second statement is false.
<em>The probability of selecting a sample which doesn't capture the true value of μ would be 10% rather than 5% if they decide to calculate a 90% confidence interval rather than a 95% confidence interval from the sample they will select.</em>
As stated before the <em>confidence </em>of a confidence interval is the probability that the interval contains the true value of μ. Therefore, if we increase the confidence from 95% to 90% then this probability also increases. A 90% confidence means that there's a 10% probability of not containing the true mean. Likely, a 95% confidence means that there's a 5% probability of not containig the true mean. The third statement is true.
The change is a growth of 2.5% so the factor will be:
1 + 0.025 = 1.025
N = 1000(1.025)⁶
= $1,160
Answer:
0.46875 or 15/32
Step-by-step explanation:
Find the value in Australian dollars for each exchange rate.
<span>1st exchange rate: </span>
<span>14000/6.21= $2254.43 </span>
<span>2nd exchange rate: </span>
<span>14000/6.37= $2197.80 </span>
<span>Find the difference between the two: </span>
<span>$2254.43 - $2197.80 = $56.63 </span>
Since the first value is greater than your second one Aggie lost money and your answer is <span>It decreases by $56.63.</span>
Answer: The answer is 11 (A)
Step-by-step explanation:
