Answer:
0.34134
Step-by-step explanation:
In other to solve for this question, we would be using the z score formula
z = (x - μ) / σ
x = raw score
μ = mean
σ = Standard deviation
We are told in the question to find the probability that a worker selected at random makes between $350 and $400
let x1 = 350 and x2= 400 with the mean μ = 400 and standard deviation σ = $50.
z1 = (x1 - μ) / σ = (350-400) / 50 = -1
z2 = (x2 - μ) / σ = (400 - 400) / 50 = (0/50) = 0
From tables, P(z <= -1) = 0.15866
P(z <= 0) = 0.5
Then, the probability would give us, P(-1 ≤ z ≤ 0) =0.5 - 0.15866 =
0.34134
Hence, The probability that a worker selected at random makes between $350 and $400 = 0.34134
Answer:
9 miles
Step-by-step explanation:
3 x 3 = 9 miles per day
Answer:
6.1!
Step-by-step explanation:
The product means you multiply, so you should divide 109.8 by 18. That will get you 6.1 as the answer.
Answer:
a. 
μ = $24.57
μ ≠ $24.57
b. 0.12
c. we fail to reject the null hypothesis since p ≈0.12 > 0.05
d. we fail to reject the null hypothesis since z ≈-1.6 > -1.96
Step-by-step explanation:
a)
μ = $24.57
μ ≠ $24.57
b)
To compute p value, we need to calculate z-score of $23.89 per hour. in the distribution assumed under null hypothesis
z-score can be calculated as follows:
where
- X= $23.89
- M is the mean value under null hypothesis ( $24.57)
- s is the sample standard deviation ($2.40)
- N is the sample size (30)
Putting the numbers in the formula we get
≈ −1,5518
The corresponding p-value is <em>two tailed </em>and ≈ 0.12
c)
since p ≈0.12 > 0.05 <em>we fail to reject the null hypothesis.</em>
d)
Critical value for the 0.05 significance level in two tailed test is :
c(z)=-1.96 Since z≈ −1,6 >-1.96, it is not in the critcal region, therefore <em>we fail to reject the null hypothesis. </em>
For the same payment and term, the lower the interest rate, the more the loan can be. The opposite is also true. The appropriate selection is ...
B. If the interest rate were 6.8%, the amount of the loan Bill is considering taking out would be less than $33,025.69.
_____
At 6.8%, Bill can afford a loan of $32,585.93.
