Solve and simplify (and convert back to a mixed number) 2 2/3 x 4 1/4 =

Suppose a 90% confidence interval for the mean salary of college graduates in a town in Mississippi is given by [$38,737, $50,46

JulsSmile [24]

Answer:

a. The point estimate was of $44,600.

b. The sample size was of 16.

Step-by-step explanation:

Confidence interval concepts:

A confidence interval has two bounds, a lower bound and an upper bound.

A confidence interval is symmetric, which means that the point estimate used is the mid point between these two bounds, that is, the mean of the two bounds.

The margin of error is the difference between the two bounds, divided by 2.

a. What is the point estimate of the mean salary for all college graduates in this town?

Mean of the bounds, so:

(38737+50463)/2 = 44600.

The point estimate was of $44,600.

b. Determine the sample size used for the analysis.

First we need to find the margin of error, so:

$M = \frac{50463-38737}{2} = 5863$

Relating the margin of error with the sample size:

We have that to find our $\alpha$ level, that is the subtraction of 1 by the confidence interval divided by 2. So:

$\alpha = \frac{1 - 0.9}{2} = 0.05$

Now, we have to find z in the Z-table as such z has a p-value of $1 - \alpha$ .

That is z with a pvalue of $1 - 0.05 = 0.95$ , so Z = 1.64.

Now, find the margin of error M as such

$M = z\frac{\sigma}{\sqrt{n}}$

In which $\sigma$ is the standard deviation of the population and n is the size of the sample.

For this problem, we have that $\sigma = 14300, M = 5863$ . So

$M = z\frac{\sigma}{\sqrt{n}}$

$5863 = 1.645\frac{14300}{\sqrt{n}}$

$5863\sqrt{n} = 1.645*14300$

$\sqrt{n} = \frac{1.645*14300}{5863}$

$(\sqrt{n})^2 = (\frac{1.645*14300}{5863})^2$

$n = 16$

The sample size was of 16.

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What are the outputs of the following function?

NISA [10]

Answer:

-2

Step-by-step explanation:

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A rectangular vegetable patch has a perimeter of 36 meters and an area of 80 square meters. What are the dimensions of the veget

hjlf

Answer: 5 and 4

Step-by-step explanation:

Perimeter = 2 ( L + W)

18 = 2(L + W) divide through by 2

9 = L + W

9 - L = W

Area = L * W

20 = L (9 - L)

20 = 9L - L^2

L^2 - 9L + 20 = 0 factor

(L - 5) (L - 4) = 0

Set both factors to 0 and solve for L

L = 5 and L = 4

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Tony is planning to buy a house. He needs to borrow $565,000 from the bank for 30 yrs at an APR of 3.2%. What will his monthly p

HACTEHA [7]

9999999999999999999999999999999999990

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When calculating the effective rate of a loan, which statement or statements must be true if n is greater than 1? I. The length

Fed [463]

When calculating the loan's effective rate, the most accurate statement is that the effective rate will exceed the nominal rate.

<h3>Effective Annual Rate:</h3>

The interest rate for the entire year is known as the effective annual rate (EAR). Interest charges are incurred when a company uses debt or capital leases to fund its operations.

Interest is reported on the income statement, but it can also be generated on an investment or paid on a loan over time due to compounding interest.

It is frequently larger than the marginal rate and is used to compare various financial products with different compounding periods, such as weekly, monthly, and yearly.

The effective yearly interest rate rises over time as the number of compounding periods increases.

Therefore, the correct option is A.

Learn more about the loans here:

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