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zhenek [66]
3 years ago
7

What is the average price of an item sold considering quantity? 12 notepads at $4.20 25 folders at $0.80 3 calculators at $19.00

Mathematics
1 answer:
Savatey [412]3 years ago
7 0

Answer:

Average price = $3.185

Step-by-step explanation:

Given:

12 notepads = $4.20 each

25 folders = $0.80 each

3 calculators =  $19.00 each

Find:

Average price

Computation:

Average price = Total cost / Total number of item

Average price = [(12)(4.20) + (25)(0.80) + (3)(19)] / [12 + 25 + 3]

Average price = [(50.4) + (20) + (57)] / [40]

Average price = [127.4] / [40]

Average price = $3.185

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The percentage of body fat of a random sample of 36 men aged 20 to 29 found a sample mean of 14.42. Find a 95% confidence interv
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Answer:

14.42-1.96\frac{6.95}{\sqrt{36}}=12.150    

14.42+ 1.96\frac{6.95}{\sqrt{36}}=16.690    

So on this case the 95% confidence interval would be given by (12.150;16.690)    

Step-by-step explanation:

Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

\bar X=14.42 represent the sample mean

\mu population mean (variable of interest)

\sigma=6.95 represent the population standard deviation

n=36 represent the sample size  

Solution to the problem

The confidence interval for the mean is given by the following formula:

\bar X \pm z_{\alpha/2}\frac{\sigma}{\sqrt{n}}   (1)

Since the Confidence is 0.95 or 95%, the value of \alpha=0.05 and \alpha/2 =0.025, and we can use excel, a calculator or a table to find the critical value. The excel command would be: "=-NORM.INV(0.025,0,1)".And we see that z_{\alpha/2}=1.96

Now we have everything in order to replace into formula (1):

14.42-1.96\frac{6.95}{\sqrt{36}}=12.150    

14.42+ 1.96\frac{6.95}{\sqrt{36}}=16.690    

So on this case the 95% confidence interval would be given by (12.150;16.690)    

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