Need the answer for numbers 4,8,and 12
1 answer:
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Answer: 11.5%
Explanation:
Since 1 minute = 60 seconds, we multiply 12 minutes by 60 so that 12 minutes = 720 seconds. Thus, we're looking for a probability that the auditor will spend more than 720 seconds.
Now, we get the z-score for 720 seconds by the following formula:
where
So, the z-score of 720 seconds is given by:
Let
t = time for the auditor to finish his work
z = z-score of time t
Since the time is normally distributed, the probability for t > 720 is the same as the probability for z > 1.2. In terms of equation:
Hence, there is 11.5% chance that the auditor will spend more than 12 minutes in an invoice.
Explanation:
Since 1 minute = 60 seconds, we multiply 12 minutes by 60 so that 12 minutes = 720 seconds. Thus, we're looking for a probability that the auditor will spend more than 720 seconds.
Now, we get the z-score for 720 seconds by the following formula:
where
So, the z-score of 720 seconds is given by:
Let
t = time for the auditor to finish his work
z = z-score of time t
Since the time is normally distributed, the probability for t > 720 is the same as the probability for z > 1.2. In terms of equation:
Hence, there is 11.5% chance that the auditor will spend more than 12 minutes in an invoice.
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".
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 99% 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 can use as an estimator for p . And replacing into equation (b) the values from part a we got:
And rounded up we have that n=385