Answer:
Step-by-step explanation:
Let X be the length of time between billing dates and checks received and deposited for non-delinquent accounts of an oil company’s monthly credit card customers
X has mean 13.5 and sigma 3 days
Sample size = n =36, x bar = 13
(One tailed test at 0.025 sign. level)
Mean diff = -0.5
Since sigma is known z test can be used
Std error =
Z statistic = -0.5/SE= -0.1
p value = 0.920
p>0.025 hence accept null hypothesis.
My conclusion is there is no statistical evidence that lock box reduced the mean time.
This is a very hard question but, i am a very hard man.
Given:
<span>F= $335,000
n = 30 years at a fixed rate of i = 7.5%
Required:
the total cost of the principal
Solution:
F = P(1+i)^n
P = F/(1+i)^n
P = 335,000 / (1.0.075)^30
P = 38,264.05</span>