Your school claims that the average student graduates with debt of $1,260. To validate this claim, you create a random sample of 20 students during graduation and ask each student to anonymously report the amount of their student loan debt. Complete parts a through c. $0 $0 $0 $1,900 $4 $2,400 $300 $1,200 $0 $1,700 $2,900 $2,900 $0 $2,100 $2,350 $2,800 $1,900 $150 $2,350 $2,850 a. Construct a 99% confidence interval with these data to estimate the average student loan debt of students graduating at your school. The 99% confidence interval is from $☐ to $. (Round to two decimal places as needed. Use ascending order.)
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- A consumer watchdog organization is concerned about credit card debt. A survey of 10 young adults with credit card debt of more than $2,000 showed they paid an average of just over $100 per month against their balances. Listed below are the amounts each young adult paid last month. $110 $126 $103 $93 $99 $113 $87 $101 $109 $100Calculate the missing information for the purchase. Item SellingPrice SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax TotalPurchase Price(in $) Sofa $650.00 5 $ 0 0 $A rental car company purchased a new Chevy Impala for $27,385. The company determined this asset should be depreciated for five years using the straight-line depreciation method. At the end of five years, the car will be worth $9,405. a. Estimate the value of the car at Year 3. b. Did you use interpolation or extrapolation to estimate the value in part a? Explain. c. How much does the car depreciate each year? d. Write an algebraic model to find the value of the car given the years since purchase. e. Use your model to find the actual value of the car at Year 3.
- In the early 2000s interest rates were low so many homeowners refinanced their home mortgages. Linda is a mortgage officer at Maybank Savings and Loan. Below is the amount refinanced for twenty loans she processed last week. The data are reported in thousands of dollars and arranged from smallest to largest. 59.2 59.5 61.6 65.5 66.6 72.9 74.8 77.3 79.2 83.7 85.6 85.8 86.6 87.0 87.1 90.2 93.3 98.6 100.2 100.7 a. Find the mean, median, 1stquartile and 3rd quartile b. Draw a stem and leaf plot of the data using class width of 10A rental car company purchased a new Honda Civic for $27,510. The company determined this asset should be depreciated for five years using the straight-line depreciation method. At the end of five years, the car will be worth $9,500. a. Estimate the value of the car at Year 3. b. Did you use interpolation or extrapolation to estimate the value in part a? Explain. c. How much does the car depreciate each year? d. Write an algebraic model (a linear equation) to find the value of the car given the years since purchase. e. Use your model to find the actual value of the car at Year 4. Show your work.In recent years, due to low interest rates, many homeowners refinanced their home mortgages. Linda Lahey is a mortgage officer at Down River Federal Savings and Loan. Below is the amount refinanced for 20 loans she processed last week. The data are reported in thousands of dollars and arranged from smallest to largest. 59.2 59.5 61.6 65.5 66.6 72.9 74.8 77.3 79.2 83.7 85.6 85.8 86.6 87.0 87.1 90.2 93.3 98.6 100.2 100.7 Click here for the Excel Data File a. Find the median, first quartile, and third quartile. (Enter your answers in thousands and round your answers to 2 decimal places.) Median First quartile Third quartile b. Find the 26th 26th Percentile 83rd Percentile and 83rd percentiles. (Enter your answers in thousands and round your answers to 2 decimal places.)
- Compute Darryl's total Social Security and Medicare taxes for the third quarter, if she is self-employed and earns $1,220.00 on a weekly basis. a $186.66 b $1,213.29 c $1,308.45 d $2,426.58Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 63% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is. (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 63% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is. (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…
- Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 62% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is. (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…Several years ago, two companies merged. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to participate in the 401(k) accounts. Nationwide, 67% of eligible workers participated in these accounts. The accompanying data table contains responses of 30 employees of the company when asked if they were currently participating in a 401(k) account. Complete parts a through d. Click the icon to view the data table. a. Determine the sample proportion of company workers who participate in 401(k) accounts. The sample proportion is (Round to three decimal places as needed.) b. Determine the sampling error if in reality the company workers have the same proportion of participants in 401(k) accounts as does the rest of the nation. The error is . (Round to three decimal places as needed.) c. Determine the probability that a sample proportion at least as large as that obtained in the sample would be obtained if the…The daily sales figures shown below have been recorded in a medium size insurance company