Stephen borrows $10,000 from his uncle at a simple interest rate of 2%. He repays the loan in full after 3 years. How much money

Answer:

Hence, in this case, the 98% confidence interval would be (163.626;180.374)    

Step-by-step breakdown:

Previous concepts

A confidence interval represents a range that is likely to encompass a population value within a specific confidence level, typically expressed as a percentage whereby a population mean falls between an upper and lower limit.

The margin of errorindicates the span of values surrounding the sample statistic in a confidence interval.

A normal distributionillustrates a probability distribution that is symmetrical around the mean, signifying that values near the mean occur more frequently than those farther away from it.

denote the sample mean

population mean (the variable of interest)

s=16 signifies the sample standard deviation

n=23 represents the sample size  

The solution to the query

The equation for the confidence interval of the mean is given by the following formula:

  (1)

To determine the critical value , we first need to calculate the degrees of freedom, which is expressed as:

Since the confidence level is 0.98 or 98%, we find the value of and using tools like Excel or a calculator, where the Excel command would be: "=-T.INV(0.01,22)". This yields

Having all components ready, we can substitute into formula (1):

Thus, for this case, the 98% confidence interval will be (163.626;180.374)    

Answer:

Confidence Interval

Lower Limit = $4,233.3

Upper Limit = $4,766.7

With 95% certainty, SoftBus can anticipate that the average profit per customer will fall within the range of $4,233.30 to $4,766.7, based on the provided sample data.

Step-by-step explanation:

The z-score corresponding to 95% is 1.96

             Profit         Mean      Square Root

                           Difference    of MD

P1        $5,000       $500        $250,000

P2         4,500          0              0

P3         4,000       -500         $250,000

Total $13,500                        $500,000

Mean $4,500 ($13,500/3)    $166,667 ($500,000/3)

Standard Deviation = Square root of $166,667 = 408.2

Margin of error = (z-score * standard deviation)/n

= (1.96 * 408.2)/3

= 266.7

= $266.7

Confidence Interval = Sample mean +/- Margin of error

= $4,500 +/- 266.7

Lower Limit = $4,233.3 ($4,500 - $266.7)

Upper Limit = $4,766.7 ($4,500 + $266.7)

Answer:

550

Step-by-step explanation:

We know that 17% of the applicants (3,240) will receive acceptance.

0.17 * 3,240 = 550.8

Thus, 550 students will gain acceptance

we must round down since only 17% can be accepted, and having 0.8 of a person is not feasible

hope this helps

Answer:

Well, 1000>(15x+t)+(50x+100t) if there are children aboard.

B. The maximum amount is 19 if one adult is going with 18 children (meal plan excluded). Meanwhile, $1000

C. If solely adults are participating, then a maximum of 8 adults can join if they plan to use the raffle ticket for meals as well. Otherwise, the maximum number would be 10.

I hope this interpretation is accurate.