MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
expand_more
expand_more
format_list_bulleted
Question
Please see below for the question details. I got 34.32 for the interest, but I also got 19.68 and 32 when I reworked the problem; Please help!!!!
Because of the relatively high interest rates, most consumers attempt to pay off their credit card bills promptly. However, this is not always possible. An analysis of the amount of interest paid monthly by a bank's Visa cardholders reveals that the amount is
D. What interest payment is exceeded by only 18% of the bank's Visa cardholders?
Interest Payment =
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps with 1 images
Knowledge Booster
Similar questions
- Suppose you run a non-for-profit organization focused to keeping national parks free of litter. Crucialto getting donations to your non-for-profit is email advertising. One way to measure the success ofyour email advertising is to measure the amount of money coming from links to donate on your emails.Normally, your emails contain only words and numbers about litter in national parks. You believe thatincluding images of littered areas of national parks might increase the amount in donations that youget through emails. To test if this is true, you randomly assign 50 individuals to receive the new emailformat with images and 42 to receive your usual email format (this is called an A/B test). The newemail format had an average donation per recipient of$5.50 with a standard deviation of$2.75 while theold email format had an average donation per recipient of$3.50 with a standard deviation of$2.50. Doesthe average donation differ between the new and old email formats? Letμ1be the true mean…arrow_forwardSuppose your statistics professor reports test grades as z-scores and you got the score of 2.33 on an exam. a. Write a sentence explaining what that means. B. Your friend got a z-score of -2. If the grade satisfy the nearly normal condition, about what percent of the class scored lower than your friend?arrow_forwardSuppose you run a non-for-profit organization focused to keeping national parks free of litter. Crucial to getting donations to your non-for-profit is email advertising. One way to measure the success of your email advertising is to measure the amount of money coming from links to donate on your emails. Normally, your emails contain only words and numbers about litter in national parks. You believe that including images of littered areas of national parks might increase the amount in donations that you get through emails. To test if this is true, you randomly assign 50 individuals to receive the new email format with images and 42 to receive your usual email format (this is called an A/B test). The new email format had an average donation per recipient of$5.50 with a standard deviation of$2.75 while the old email format had an average donation per recipient of$3.50 with a standard deviation of$2.50. Does the average donation differ between the new and old email formats? Letμ1be the…arrow_forward
- In June, an investor purchased 3000 shares of Oracle (an information technology company) stock at $53 per share. in august, she purchased an additional 400 shares at $42 per share. In November, she purchased an additional 400 shares at $45. What is the weighted mean price per share?arrow_forwardA professor using an open-source introductory statistics book predicts that 60% of the students will purchase a hard copy of the book, 25% will print it out from the web, and 15% will read it online. She has 200 students this semester. Assuming that the professor's predictions were correct, calculate the expected number of students who read the book online.arrow_forwardLook at the picturearrow_forward
- Before going to college, Chelsea wanted to see if she could sell her old car online. She selected a sample of the prices on 25 similar cars sold online in the past month. Later, Chelsea realized that the lowest-priced car in the sample was mistakenly recorded as half the price it actually sold for. However, after correcting the error, the corrected price was still less than or equal to any other car price in her sample. Which of the following sample statistics must have remained the same after the correction was made? Select one: 1.Range 2.Median 3.Mode 4.Variance 5.Meanarrow_forwardThe blue catfish (Ictalurus Furcatus) is the largest species of North Amercian catfish. The current world record stands at 143 pounds, which was caught in the John H. Kerr Reservoir (Bugg's Island Lake) located in Virginia. According to Amercian Expedition, the average weight of a blue catfish is between 20 to 40 pounds. Given that the largest blue catfish ever caught was at the John H. Kerr Reservoir, you believe that the mean weight of the fish in this reservoir is greater than 40 pounds.a) If you going to test this claim at the 0.05 significance level, what would be your null and alternative hypotheses?H0H0: H1H1: b) What type of hypothesis test should you conduct (left-, right-, or two-tailed)? left-tailed right-tailed two-tailedarrow_forwardWhat is the name of the test used?arrow_forward
- Hellen has just started a new years competition for her local climbing gym. There are two categories for this competition: singles and group (18 people). The rules are simple, put in the most hours in one months time and you get a guided tour to climb Ten Sleep canyon. She knows from running this competition over the years that the number of hours climbers at her gym spend training during this competiton is approximately normal and their mean competition hours per month in the gym are 24 hrs with a standard devaition of 6 hrs. Singles Distribution: X~N( , ) Group Distribution: x̄~N( , ) The winning single participant last year was in the 97 th percentile.... how many hours did the winner accumulate over the month? One of Hellan's friends Dave put in 27.12 hours on the wall. What is the probablity that another individual will beat his time? If someone puts in between 25.5-32.1 hours on the wall they get a Mountain Goat shirt. What percent of the singles competitors is expected to…arrow_forwardThe blue catfish (Ictalurus Furcatus) is the largest species of North Amercian catfish. The current world record stands at 143 pounds, which was caught in the John H. Kerr Reservoir (Bugg's Island Lake) located in Virginia. According to Amercian Expedition, the average weight of a blue catfish is between 20 to 40 pounds. Given that the largest blue catfish ever caught was at the John H. Kerr Reservoir, you believe that the mean weight of the fish in this reservoir is greater than 40 pounds. Use the data below, which represents the summary statistics for 50 blue catfish caught at this reservoir, and a 0.05 significance level to test the claim that the mean weight of the fish in the John H. Kerr Reservoir is greater than 40 pounds. n=50; ¯x=40.72 pounds; s=5.03pounds Calculate your test statistic. Write the result below, and be sure to round your final answer to two decimal places.e) Calculate your p-value. Write the result below, and be sure to round your final answer to four decimal…arrow_forwardTrue or False The PEW Researcher center based on a sample of 10,000 recent college graduates says the average amount of money owed in student loans is $31,800. The value of $31,800 is a statistic. A study is observational when the researcher controls the behaviors of their subjects.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons IncProbability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage LearningStatistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
- Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSONThe Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. FreemanIntroduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman