7 minutes is the answer but check with the teacher first
The formula for interval estimate would be: μ = M ± Z(<span>sM</span>)
Where: μ is estimate
M is the mean
Z is the z value
(<span>sM</span>) is the standard
error
μ = M ± Z(<span>sM</span>)
n = 200 rather than 50 (√200 = 2√50)
<span>⇒ ME = (1/2) * 1.32 = .66</span>
<span>Using the formula above, plugging this in will give us: μ
= 19.76 ± .66</span>
<span> = 19.76 ± .66 is
the confidence interval or interval estimate</span>
We can use the formula:
F = P · ( 1 + i )^n
where: P = $125,000, i = 0.019 ( 1.9 %), n = 10
F = $125,000 · ( 1 + 0.019 )^10
F = $125,000 · 1.019^10
F = $125,000 · 1.207096
F = $150,887
And we have to add $48,3000 ( for renovations and improvements )
$150,887 + $48,300 = $199,187 ≈ $199,200
Answer: You will be sell the house for $199,200.
30 were adults and 10 were children :) just add it up
