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Answer:
95% confidence interval for the mean μ is (6,14)
The Population mean μ lies between ( 6, 14 )
Step-by-step explanation:
<u><em>Explanation</em></u>:-
Given random sample 'n' = 1200
95% confidence interval for the mean μ is determined by
Level of significance = 95% 0r 0.05
Z₀.₀₅ = 1.96
= 10 ± 4
Mean of the small sample = 10
95% of confidence intervals are
( 10 ±4 )
( 10 -4 , 10+4)
( 6 , 14 )
95% confidence interval for the mean μ lies between ( 6, 14 )
Answer:
Rs. 7245
Step-by-step explanation:
Given parameters:
Cost price = Rs. 6300
Percentage profit = 15%
Unknown:
Selling price = ?
Solution:
If profit is made on a trade, the selling price is higher than the cost price.
Profit = Selling price - Cost price
To find the selling price simply;
Selling price =( 1 + ) x cost price
Selling price = 1.15 x 6300 = Rs. 7245