As James bought his textbooks for classes one semester, he estimated the cost to the nearest ten dollars. He knew he could cover
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Answer:
The 95% confidence interval for the difference is (-0.1888, 0.0202).
Step-by-step explanation:
Difference between proportions:
The distribution of the difference between two proportions has mean of the difference between these proportions and standard deviation is the square root of the sum of the variances. So
In a sample of 86 units made with gold wire, 68 met the specification
This means that:
In a sample of 120 units made with aluminum wire, 105 met the specification.
This means that:
Difference:
Confidence interval:
In which z is the zscore that has a pvalue of , with
being 1 subtracted by the confidence level.
95% confidence level
So , z is the value of Z that has a pvalue of
, so
.
Lower bound of the interval:
Upper bound of the interval:
The 95% confidence interval for the difference is (-0.1888, 0.0202).
<u>Supposing a cost of $30,000</u>, and using proportions, it is found that you would have to save $1,083.30 each month.
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- We suppose a cost of $30,000.
- You already have $4,000 saved.
- 30 - 4 = 26, thus, you would need to save $26,000 in 2 years = 24 months.
- How much per month?
We can solve it using proportions, by the following rule of three:
1 month - $x
24 months - $26,000
Applying cross multiplication:
You would have to save $1,083.30 each month.
A similar problem is given at brainly.com/question/24112433