Find the simple interest paid for 8 years on a $850 loan at 7.5% per year.
1 answer:
You might be interested in
Answer:
Step-by-step explanation:
Information given
n=564 represent the sample selected
X=51 represent the number of people who rated the overall services as poor
estimated proportion of people who rated the overall services as poor
is the value to compare
z would represent the statistic
Hypothsis to analyze
We want to analyze if the proportion of customers who would rate the overall car rental services as poor is 0.1, so then the system of hypothesis are:
Null hypothesis:
Alternative hypothesis:
The statistic for a one z test for a proportion is given by:
(1)
Replacing the info given we got:
And the p value since we have a bilateral test is given b:
See attached. The trick is to use similar triangles.
