A paint company has developed a new paint formula which should have a faster drying time compared to the old formula. Paint drying time is known to be normally distributed, and from previous tests it is known that the original paint formula has a mean drying time of μ₁ = 45 min (0₁ = 6 min). The company's R&D scientists believe the new formula will have a mean drying time of #₂ = 35 min (0₂= 4 min) (that is, they expect the new formula to dry an average of 10 min faster than the old formula, or that #₁ - 2 = 10). A scientist takes 16 samples of each paint formula and determines the mean drying time for each batch to be X₁ = 44 min and X₂ = 36 min, respectively. Does the assumed value of μ₂ = 35 min seem correct? (That is, does #₁ #2 = 10 min seem correct if he finds ₁-X₂ = 8?) i) ii) How likely is it to find samples as extreme as (or more extreme than) these? (That is, what is P(X₁X₂ <8), under the assumption that μ₂ = 35?) Does the assumed value of #2 = 35 min seem correct? (That is, is ₁ - 2 = 10 likely to be correct if he finds X₁ X₂ = 8?) Circle YES or NO and briefly explain your answer. YES NO

|4. The Booster Club raised $30,000 for a sports fund. No more money will be placed into the fund. The appreciation value of the fund is 5.25% per year. Determine the amount of money, to the nearest cent, that will be left in the sports fund after 4 years.

I received a salary increase of 6% each year for 5 years. What is the total percentage increase in my salary over that 5-year period?

Claire Fisher took out a $60,00, 5-year term policy at age 44. The premium per $1,000 was $4.35. She will be 49 years old this year. The premium per $1,000 will be $6.22. What is the percent increase