A vet borrows $12,000 for 4 years. The total interest paid was $875. What was the interest rate on the loan?
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Answer:
Step-by-step explanation:
The confidence interval for population mean is given by :-
, where is the sample proportion, n is the sample size ,
is the critical z-value.
Given : Significance level :
Sample size : n= 85
Critical value :
Sample proportion:
Now, the 99% confidence level will be :
Hence, the 99% confidence interval estimate of the true proportion of families who own at least one DVD player is