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rodikova [14]
3 years ago
6

A finance journal, which publishes research on current financial topics, states that the maturity term for a certificate of depo

sit is, on average, 10 years. A banker believes the average maturity term at their bank is different than the amount quoted in the finance journal. After completing a study, the banker found that the average maturity term for a certificate of deposit is 8 years, on average.
Required:
As the banker sets up a hypothesis test to determine if their belief is correct, what is the banker's claim?
Mathematics
1 answer:
Fiesta28 [93]3 years ago
7 0

Answer:

Following are the solution to the given question:

Step-by-step explanation:

In this the hypothesis is:

H_{0}:\mu=10\\\\H_{1}:\mu\neq10

The bankers assert that their bank's average maturity was distinct from that of ten years, that's why the hypothesis of the alternative.

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Step-by-step explanation:

a)

If The probability that a person carries the gene is 0.1, then in a sample of 20 people, 2 should carry the gene.

Now, we want to know how many samples there are with this property.

Since we have 20 elements where 18 are alike (do not carry the gene) and 2 are alike (carry the gene), we have to compute the number of permutations of 20 elements in which 18 are alike and 2 are alike. This number is

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(1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0)

(1,0,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0)

(0,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0)

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So there are 190-3 = 187 elements in which the first 3 elements have no 2 carriers, hence the probability that 4 or more people will have to be tested until 2 of them with the gene are detected is 187/190 = 0.984 (98.4%) rounded to three decimal places.

b)

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