First, we determine the percentage increase for the tax.
Initial amount = 25×9 = 225 ⇒ The 9 signifies 9 lots of thousands representing the house's value.
New amount = 28×9 = 252
Tax increase = 252 - 225 = 27
Percentage increase = (27÷225) ×100 = 12%
Therefore, the yearly rent should rise by 12%
Monthly rent is $60
Yearly rent = 60×12 = $720
With a 12% increase = 720×1.12 = 806.4 ⇒ Here, 1.12 is the multiplier derived from 100%+12%=112%=1.12
Monthly rent becomes 806.4÷12 = $67.20, resulting in an additional $7.20 each month.
z = -1.66. The Z-statistic is calculated as follows. Here X signifies the obtained proportion. p stands for the mean proportion. The formula includes the standard error for the sample. From a total of 593 surveyed students, 64 met the criteria described. Thus, if the national percentage of binge drinkers is 13.1%, she has found the proportion in her data. The resulting z statistic for the dataset is derived accordingly.
It is classified as a real number.
