If John deposits $525 in a savings account and his account pays an annual interest rate of 5.5% and makes no other deposits and
1 answer:
You might be interested in
Answer:
1.26 kg.
Step-by-step explanation:
We have been given that Mr. Snow bought 90 grams of Christmas candy for each of his 14 grandchildren. We are asked to find the amount of candy bought by Mr. Snow in kilograms.
First of all, we will find the amount of candy in grams by multiplying 90 grams by 14 as:
We know that 1 kilogram is equal to 1000 grams. To convert 1260 grams into kg, we will divide 1260 by 1000 as:
Therefore, Mr. Snow bought 1.26 kilograms of candy.
Answer:
And rounded up we have that n=385
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".
The population proportion have the following distribution
Solution to the problem
In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by and
. And the critical value would be given by:
The margin of error for the proportion interval is given by this formula:
(a)
And on this case we have that and we are interested in order to find the value of n, if we solve n from equation (a) we got:
(b)
We assume that the estimated proportion for this case is since we don't have prior information.
And replacing into equation (b) the values from part a we got:
And rounded up we have that n=385