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umka2103 [35]
3 years ago
12

The owner of Limp Pines Resort wanted to know the average age of its clients. A random sample of 25 tourists is taken. It shows

a mean age of 46 years with a standard deviation of 5 years. The width of a 98 percent confidence interval for the true mean client age is approximately:_______.
A. ± 2.492 years.
B. ± 1.711 years.
C. ± 2.326 years.
D. ± 2.797 years.
Mathematics
1 answer:
erma4kov [3.2K]3 years ago
7 0

Answer:

C. ± 2.326 years.

Step-by-step explanation:

We have the standard deviation for the sample. So we use the t-distribution to solve this question.

We have that to find our \alpha level, that is the subtraction of 1 by the confidence interval divided by 2. So:

\alpha = \frac{1-0.98}{2} = 0.01

Now, we have to find z in the Ztable as such z has a pvalue of 1-\alpha.

So it is z with a pvalue of 1-0.01 = 0.99, so z = 2.326/tex]Now, find the width of the interval[tex]W = z*\frac{\sigma}{\sqrt{n}}

In which \sigma is the standard deviation of the population and n is the size of the sample.

In this question:

\sigma = 5, n = 25

So

W = z*\frac{\sigma}{\sqrt{n}}

W = 2.326*\frac{5}{\sqrt{25}}

The correct answer is:

C. ± 2.326 years.

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An account with an initial balance of $4,000.00 and a 3% interest rate has a balance of $4,121.66 at the end of one year. What i
Gekata [30.6K]

The effective annual yield is 3.04%

What is effective annual yield?

Effective annual yield is the rate of return that considers the frequency of compounding, in other words, the number of times in a year that interest on the balance is compounded.

The easiest way to determine the effective annual yield in this case is to compare the end of the year balance with the initial balance at the start of the year

effective annual yield=(ending balance/initial balance)-1

ending balance=$4,121.66

initial balance=$4000

effective annual yield=($4,121.66/$4000)-1

effective annual yield=3.04%

Another way to determine the effective annual yield is use the below formula which considers that interest rate is 3% compounded monthly, in other words, n, the frequency of compounding is 12

EAR=(1+r/n)^n-1

r=3%

n=12

EAR=(1+3%/12)^12-1

EAR=3.04%

Find out more on effective annual yield on :brainly.com/question/3125221

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