Joseph Moore is a high school sophomore. He currently has $7,500 in a savings account that pays 6.96 percent annually. Joseph plans to use his current savings plus what he can save over the next four years to buy a car. He estimates that the car will cost $13,679 in four years. How much money should Joseph save each year if he wants to buy the car? (Round factor values to 6 decimal places, e.g. 1.521253 and the final answer to 2 decimal place e.g. 15.25.)
| Joseph should save | $ |
In: Finance
It is generally believed that nearsightedness affects about 15% of children. A school district gives vision tests to 111 incoming kindergarten children. Use the empirical rule (68%-95%-99.7% Rule) to determine what proportion of nearsighted children we might expect to see in samples of 111 children (I'm not looking for the number of children). Assume conditions are met! No need to draw the model, though if you find it easier to do so you may draw it by hand and attach a picture of your model using the picture button.
In: Statistics and Probability
Due to distance learning and less homework load in Peach Elementary School, parents are complaining that the average screen time is more than 3 hours per day for students in Grade 1 to Grade 3. The principal randomly selected 36 students from Grade 1 - Grade 3 and statistical summary is shown below.
|
min |
avg |
max |
std |
|
3 |
5 |
8 |
2.5 |
a. Write the hypothesis in symbols or words
b. Check the two conditions for CLT.
c. Calculate the test statistics and the associated degrees of freedom
d. Use the p-value or critical value approach to make your conclusion at 5% significance level.
|
one tail (upper) |
0.1 |
0.05 |
0.025 |
0.01 |
0.005 |
|
two tails |
0.2 |
0.1 |
0.05 |
0.02 |
0.01 |
|
t value, df = 35 |
1.31 |
1.69 |
2.03 |
2.44 |
2.73 |
In: Statistics and Probability
|
A school counselor noticed that students seemed to have a more depressed mood as finals approach. Based on this observation she wondered if there might a relationship between the students’ workload in a given month and their level of depressed mood. Specifically, she recorded the number of tests and quizzes eight students had in a given month and also assessed their levels of depressed mood at the end of the month. Higher numbers indicate more depressed mood. She decides to conduct a two-tailed test. Calculate Pearson's r. |
|
|||||||||||||||||||||||||||||||||||
|
.64 |
||
|
.78 |
||
|
.16 |
||
|
.50 |
||
|
.04 |
In: Statistics and Probability
You want to save some money for graduate school. To do this you have decided that you will put $10,000 in the bank at the beginning of each of the next 7 years. The bank has agreed to pay you 8 percent nominal interest compounded annually. How much money will you have in the bank 7 years from today?
You have just purchased a Scratch-and-Sniff lottery ticket. Scratching on the ticket, you discover that you have won a very large prize. The prize is paid in 20 equal annual installments of $5,000,000 each. You will receive the first payment one year from today. You are greedy though and decide that you would like to get your hands on as much money as you possibly can today. So you stop at the bank, before going to the lottery office, and tell them that you will give them all of the payments for a single lump sum today. The bank says they will buy the payments from you. The bank says they will use a 10 percent nominal annually compounded interest rate to calculate the present value of the payments, which is what you will receive. How much will the bank give you today?
ou are planning a trip to Egypt at some point in the future. You will spend $50,000 on the trip. To achieve your goal of having enough money to take the trip, you have deposited $20,000 into the bank today. The account will earn 10 percent nominal interest compounded annually. You will take the trip immediately upon having $50,000 in the bank. How many years must you wait before you can take the trip?
In: Finance
A nationwide award for high school students is given to outstanding students who are sophomores, juniors, or seniors (freshmen are not eligible). Of the award-winners, 60 percent are SENIORS, 24 percent JUNIORS, and 16 percent are SOPHOMORES.
Note: Your answers should be expressed as decimals rounded to three decimal places.
(a) Suppose we select award-winners one at a time and continue selecting until a SENIOR is selected. What is the probability that we will select exactly three award-winners?
(b) Suppose we select award-winners one at a time and continue selecting until a JUNIOR is selected. What is the probability that we will select at least three award-winners?
(c) Suppose we select award-winners one at a time continue selecting until a SOPHOMORE is selected. What is the probability that we will select 2 or fewer award-winners?
A measurement is normally distributed with μ=55μ=55 and σ=18σ=18. Round answers below to three decimal places.
(a) The mean of the sampling distribution of x¯x¯ for samples of size 36 is:
(b) The standard deviation of the sampling distribution of x¯x¯ for samples of size 36 is:
In: Statistics and Probability
The Graduate Record Examination (GRE) is a standardized test commonly taken by graduate school applicants in the United States. The total score is comprised of three compo- nents: Quantitative Reasoning, Verbal Reasoning, and Analytical Writing. The first two components are scored from 130 - 170. The mean score for Verbal Reasoning section for all test takers was 151 with a standard deviation of 7, and the mean score for the Quantitative Reasoning was 153 with a standard deviation of 7.67. Suppose that both distributions are nearly normal. (a) A student scores 160 on the Verbal Reasoning section and 157 on the Quantitative Reasoning section. Relative to the scores of other students, which section did the student perform better on? (b) Calculate the student’s percentile scores for the two sections. What percent of test takers per- formed better on the Verbal Reasoning section? (c) Computethescoreofastudentwhoscoredinthe80thpercentileontheQuantitativeReasoning section. (d) Compute the score of a student who scored worse than 70% of the test takers on the Verbal Reasoning section.
In: Statistics and Probability
In: Statistics and Probability
4. (24) The average starting salary of a random sample of 100 high school students was found to be $31,840. The population standard deviation for all such individuals is known to be $9,840. a. (12) Ten years ago, the average starting salary was $25,000. Does the sample data support the claim that the starting salary for this group has increased? Use alpha = 0.05.
b. (6) Describe in general Type I and Type II errors and the Power of the test.
c. (6) Describe in the context of the problem Type I and Type II error, and the Power of the test.
I need this answered ASAP please!!! Thanks
In: Statistics and Probability
The Graduate Record Examination (GRE) is a standardized test commonly taken by graduate school applicants in the United States. The total score is comprised of three compo- nents: Quantitative Reasoning, Verbal Reasoning, and Analytical Writing. The first two components are scored from 130 - 170. The mean score for Verbal Reasoning section for all test takers was 151 with a standard deviation of 7, and the mean score for the Quantitative Reasoning was 153 with a standard deviation of 7.67. Suppose that both distributions are nearly normal. (a) A student scores 160 on the Verbal Reasoning section and 157 on the Quantitative Reasoning section. Relative to the scores of other students, which section did the student perform better on? (b) Calculate the student’s percentile scores for the two sections. What percent of test takers per- formed better on the Verbal Reasoning section? (c) Computethescoreofastudentwhoscoredinthe80thpercentileontheQuantitativeReasoning section. (d) Compute the score of a student who scored worse than 70% of the test takers on the Verbal Reasoning section.
In: Statistics and Probability