A plumbing contractor receives proceeds of $4,713.54 on a 12.5% simple discount note with a face value of $5,000. Find the time
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Answer:
The 90% confidence interval would be given by (57.006;62.994)
Step-by-step explanation:
Previous concepts
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
represent the sample mean
population mean (variable of interest)
represent the population standard deviation
n=30 represent the sample size
Assuming the X follows a normal distribution
The sample mean is distributed on this way:
The confidence interval on this case is given by:
(1)
The next step would be find the value of ,
,
and
Using the normal standard table, excel or a calculator we see that:
Since we have all the values we can replace:
So on this case the 90% confidence interval would be given by (57.006;62.994)
The <u>correct diagram</u> is attached.
Explanation:
Using technology (such as Geogebra), first construct a line segment. Name the endpoints C and D.
Construct the perpendicular bisector of this segment. Label the intersection point with CD as B, and create another point A above it.
Measure the distance from C to B and from B to D. They will be the same.
Measure the distance from A to B. If it is not the same as that from C to B, slide A along line AB until the distance is the same.
Using a compass and straightedge:
First construct segment CD, being sure to label the endpoints.
Set your compass a little more than halfway from C to D. With your compass set on C, draw an arc above segment CD.
With your compass set on D (the same distance as before) draw an arc above segment CD to intersect your first arc. Mark this intersection point as E.
Connect E to CD using a straightedge; mark the intersection point as B.
Set your compass the distance from C to B. With your compass on B, mark an arc on EB. Mark this intersection point as A.
AB will be the same distance as CB and BD.
Explanation:
Using technology (such as Geogebra), first construct a line segment. Name the endpoints C and D.
Construct the perpendicular bisector of this segment. Label the intersection point with CD as B, and create another point A above it.
Measure the distance from C to B and from B to D. They will be the same.
Measure the distance from A to B. If it is not the same as that from C to B, slide A along line AB until the distance is the same.
Using a compass and straightedge:
First construct segment CD, being sure to label the endpoints.
Set your compass a little more than halfway from C to D. With your compass set on C, draw an arc above segment CD.
With your compass set on D (the same distance as before) draw an arc above segment CD to intersect your first arc. Mark this intersection point as E.
Connect E to CD using a straightedge; mark the intersection point as B.
Set your compass the distance from C to B. With your compass on B, mark an arc on EB. Mark this intersection point as A.
AB will be the same distance as CB and BD.