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1 answer:
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Answer:
Step-by-step explanation:
a)
Confidence interval in less than symbol expressed as
Where is sample mean and
is margin of error.
b)
The given t interval is
That is and
Solve these two equation by adding together.
Solve this value of \bar{x} in equation and solve for
Best point estimate of
Best point estimate of margin of error = 0.193
c)
Since sample size = 100 which is sufficiently large (Greater than 30) , it is no need to confirm that
sample data appear to be form a population with normal distribution.
Answer:
1347 hours
Step-by-step explanation:
Assuming the income is <u>net income</u> (total after taxes etc.):
- Cost of car = $17,500
- Net income = $13 per hour
To calculate the number of hours to be worked to save enough to buy the car, divide the cost of the car by hourly net income:
We have to round the number up to <u>1347 hours</u>, as only $17,498 will be saved if 1346 hours are worked.
The average working week is approximately 40 hours, therefore to calculate how many weeks it would take to earn enough money to purchase the car, divide the number of hours by 40:
⇒ 1347 ÷ 40 = 33.675
So it would take 34 weeks, working an average of 40 hours a week and not spending <u>any</u> of the money earned, to save enough to purchase the car.