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3 years ago

A women invest 806.68in a saving account that pays 5.25% annually how much is in the account at the end of the year

Mathematics

1 answer:

Brut [27]3 years ago

3 0

Simple interest= prt
=806.68 (.0525)(1)
=42.35

Balance=investment + interest earned
806.68+42.35=$849.03

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At 95% confidence, how large a sample should be taken to obtain a margin of error of 0.03 for the estimation of a population pro

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Answer:

A sample of 1068 is needed.

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of $\pi$ , and a confidence level of $1-\alpha$ , we have the following confidence interval of proportions.

$\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}$

In which

z is the zscore that has a pvalue of $1 - \frac{\alpha}{2}$ .

The margin of error is:

$M = z\sqrt{\frac{\pi(1-\pi)}{n}}$

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So $\alpha = 0.05$ , z is the value of Z that has a pvalue of $1 - \frac{0.05}{2} = 0.975$ , so $Z = 1.96$ .

At 95% confidence, how large a sample should be taken to obtain a margin of error of 0.03 for the estimation of a population proportion?

We need a sample of n.

n is found when M = 0.03.

We have no prior estimate of $\pi$ , so we use the worst case scenario, which is $\pi = 0.5$

Then

$M = z\sqrt{\frac{\pi(1-\pi)}{n}}$

$0.03 = 1.96\sqrt{\frac{0.5*0.5}{n}}$

$0.03\sqrt{n} = 1.96*0.5$

$\sqrt{n} = \frac{1.96*0.5}{0.03}$

$(\sqrt{n})^{2} = (\frac{1.96*0.5}{0.03})^{2}$

$n = 1067.11$

Rounding up

A sample of 1068 is needed.

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