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2 years ago

You loan your brother $300 and charge him 2% simple annual interest. He promises to

Mathematics

2 answers:

evablogger [386]2 years ago

5 0

Answer:

$306

Step-by-step explanation:

In one year, the 2% annual interest would have been applied once. Therefore, your brother would pay you 1.02 * 300 which is 306.

Hope this helps :)

kvv77 [185]2 years ago

3 0

Answer: 306 dollars

===========================================

Work Shown:

i = P*r*t ..... simple interest formula

i = 300*0.02*1

i = 6

Your brother pays $6 in simple interest on top of the $300 in principal loaned to him. The total amount he pays back is 300+6 = 306 dollars.

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Another way to calculate the answer is to do these steps

A = P*(1+r*t)

A = 300*(1+0.02*1)

A = 300*(1.02)

A = 306

The 1.02 represents a 2% increase when going from 300 to 306.

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Read 3 more answers

Consider a drug testing company that provides a test for marijuana usage. Among 317 tested subjects, results from 25 subjects w

svet-max [94.6K]

Answer:

We conclude that we fail to reject $H_0$ as there is not sufficient evidence to warrant support of the claim that less than 10 percent of the test results are wrong.

Step-by-step explanation:

We are given that among 317 tested subjects, results from 25 subjects were wrong.

We have to test the claim that less than 10 percent of the test results are wrong.

Let p = proportion of subjects that were wrong.

So, Null Hypothesis, $H_0$ : p = 10% {means that 10 percent of the test results are wrong}

Alternate Hypothesis, $H_A$ : p < 10% {means that less than 10 percent of the test results are wrong}

The test statistics that would be used here One-sample z proportion statistics;

T.S. = $\frac{\hat p-p}{\sqrt{\frac{\hat p (1-\hat p)}{n} } }$ ~ N(0,1)

where, $\hat p$ = sample proportion of test results that were wrong = $\frac{25}{317}$ = 0.08

n = sample of tested subjects = 317

So, test statistics = $\frac{0.08-0.10}{\sqrt{\frac{0.08 (1-0.08)}{317} } }$

= -1.31

The value of z test statistics is -1.31.

Now, the P-value of the test statistics is given by the following formula;

P-value = P(Z < -1.31) = 1 - P(Z $\leq$ 1.31)

= 1 - 0.9049 = 0.095

Now, at 0.05 significance level the z table gives critical value of -1.645 for left-tailed test. Since our test statistics is more than the critical value of z as -1.31 > -1.645, so we have insufficient evidence to reject our null hypothesis as it will not fall in the rejection region due to which we fail to reject our null hypothesis.

Therefore, we conclude that we fail to reject $H_0$ as there is not sufficient evidence to warrant support of the claim that less than 10 percent of the test results are wrong.

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