Joe is making $485 payments monthly, but the amount gets interest on a yearly basis, not monthly, so the amount that yields interest is 485*12
also, keep in mind, we're assuming is compound interest, as opposed to simple interest
Solve for x A. 10 B. -8 C. 6 D. 3
1 answer:
You might be interested in
Joe is making $485 payments monthly, but the amount gets interest on a yearly basis, not monthly, so the amount that yields interest is 485*12
also, keep in mind, we're assuming is compound interest, as opposed to simple interest
Answer:
a. The 95% confidence interval for the proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is (0.54, 0.588). This means that we are 95% sure that the true proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is between these two bounds.
b. Because this confidence interval is entirely above 0.5, the interval is consistent with the statement that a majority of adult Americans would give themselves a grade of A or B.
Step-by-step explanation:
In a sample with a number n of people surveyed with a probability of a success of , and a confidence level of
, we have the following confidence interval of proportions.
In which
z is the zscore that has a pvalue of .
Sample of 1,664 adult Americans, 939 people in the sample would have given themselves a grade of A or B in personal finance.
This means that
95% confidence level
So , z is the value of Z that has a pvalue of
, so
.
The lower limit of this interval is:
The upper limit of this interval is:
The 95% confidence interval for the proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is (0.54, 0.588). This means that we are 95% sure that the true proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is between these two bounds.
(b) Is the confidence interval from part (a) consistent with the statement that a majority of adult Americans would give themselves a grade of A or B?
Yes, because the confidence interval is entirely above 0.5.
Because this confidence interval is entirely above 0.5, the interval is consistent with the statement that a majority of adult Americans would give themselves a grade of A or B.