What should be included in a financial plan to protect assets?
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Answer:
a) 95% confidence interval estimate of the true weight is (3.026, 3.274)
b) 99% confidence interval estimate of the true weight is (2.944, 3.356)
Step-by-step explanation:
Confidence Interval can be calculated using M±ME where
- M is the mean of five successive weightings (3.150)
- ME is the margin of error from the mean
And margin of error (ME) can be calculated using the formula
ME= where
- t is the corresponding statistic in the given confidence level and degrees of freedom(t-score)
- s is the standard deviation of the random error (0.1)
- N is the sample size (5)
Using the numbers 95% confidence interval estimate of the true weight is:
3.150±≈3.150±0.124
And 99% confidence interval estimate of the true weight is:
3.150±≈3.150±0.206
see the attached figure with the letters
1) find m(x) in the interval A,B
A (0,100) B(50,40) -------------- > p=(y2-y1(/(x2-x1)=(40-100)/(50-0)=-6/5
m=px+b---------- > 100=(-6/5)*0 +b------------- > b=100
mAB=(-6/5)x+100
2) find m(x) in the interval B,C
B(50,40) C(100,100) -------------- > p=(y2-y1(/(x2-x1)=(100-40)/(100-50)=6/5
m=px+b---------- > 40=(6/5)*50 +b------------- > b=-20
mBC=(6/5)x-20
3) find n(x) in the interval A,B
A (0,0) B(50,60) -------------- > p=(y2-y1(/(x2-x1)=(60)/(50)=6/5
n=px+b---------- > 0=(6/5)*0 +b------------- > b=0
nAB=(6/5)x
4) find n(x) in the interval B,C
B(50,60) C(100,90) -------------- > p=(y2-y1(/(x2-x1)=(90-60)/(100-50)=3/5
n=px+b---------- > 60=(3/5)*50 +b------------- > b=30
nBC=(3/5)x+30
5) find h(x) = n(m(x)) in the interval A,B
mAB=(-6/5)x+100
nAB=(6/5)x
then
n(m(x))=(6/5)*[(-6/5)x+100]=(-36/25)x+120
h(x)=(-36/25)x+120
find <span>h'(x)
</span>h'(x)=-36/25=-1.44
6) find h(x) = n(m(x)) in the interval B,C
mBC=(6/5)x-20
nBC=(3/5)x+30
then
n(m(x))=(3/5)*[(6/5)x-20]+30 =(18/25)x-12+30=(18/25)x+18
h(x)=(18/25)x+18
find h'(x)
h'(x)=18/25=0.72
for the interval (A,B) h'(x)=-1.44
for the interval (B,C) h'(x)= 0.72
<span> h'(x) = 1.44 ------------ > not exist</span>
1) find m(x) in the interval A,B
A (0,100) B(50,40) -------------- > p=(y2-y1(/(x2-x1)=(40-100)/(50-0)=-6/5
m=px+b---------- > 100=(-6/5)*0 +b------------- > b=100
mAB=(-6/5)x+100
2) find m(x) in the interval B,C
B(50,40) C(100,100) -------------- > p=(y2-y1(/(x2-x1)=(100-40)/(100-50)=6/5
m=px+b---------- > 40=(6/5)*50 +b------------- > b=-20
mBC=(6/5)x-20
3) find n(x) in the interval A,B
A (0,0) B(50,60) -------------- > p=(y2-y1(/(x2-x1)=(60)/(50)=6/5
n=px+b---------- > 0=(6/5)*0 +b------------- > b=0
nAB=(6/5)x
4) find n(x) in the interval B,C
B(50,60) C(100,90) -------------- > p=(y2-y1(/(x2-x1)=(90-60)/(100-50)=3/5
n=px+b---------- > 60=(3/5)*50 +b------------- > b=30
nBC=(3/5)x+30
5) find h(x) = n(m(x)) in the interval A,B
mAB=(-6/5)x+100
nAB=(6/5)x
then
n(m(x))=(6/5)*[(-6/5)x+100]=(-36/25)x+120
h(x)=(-36/25)x+120
find <span>h'(x)
</span>h'(x)=-36/25=-1.44
6) find h(x) = n(m(x)) in the interval B,C
mBC=(6/5)x-20
nBC=(3/5)x+30
then
n(m(x))=(3/5)*[(6/5)x-20]+30 =(18/25)x-12+30=(18/25)x+18
h(x)=(18/25)x+18
find h'(x)
h'(x)=18/25=0.72
for the interval (A,B) h'(x)=-1.44
for the interval (B,C) h'(x)= 0.72
<span> h'(x) = 1.44 ------------ > not exist</span>