$2000 is invested for 5 years with an APR of 3% and daily compounding.
2 answers:
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Answer:
z=14.73
p=0.000
for 99% confidence level the null hypothesis is rejected, thus majority of us adults would not bothered if the NSA collected personal records.
Step-by-step explanation:
: Half of US adults would not bothered if the NSA collect records of personal telephone calls
: Majority of the adults would not bothered if the NSA collect records of personal telephone calls
According to the sample, z-value can be found using the formula:
z= where
- X is the adults, who would not be bothered in the survey (397)
- M is the mean of the distribution of null hypothesis (257)
- n is the sample size (514)
- p is the proportion of the sample, who said they would not bothered (
≈ 0.77)
Putting these numbers in the formula,
z=14.73 and corresponding p value is p≈0.000
Since p<0.01, for 99% confidence level we reject the null hypothesis, thus majority of us adults would not bothered if the NSA collected personal records.