BUSINESS COLLEGE

Following are interest rates (annual percentage rates) for a 30-year-fixed-rate mortgage from a sample of lenders in a certain city. It is reasonable to assume that the population is approximately normal. 4.327, 4.461, 4.547, 4.662 , 4.365, 4.526 , 4.842 Find the upper bound of the 99% confidence interval for the mean rate.

Answers

Answer 1

Answer:

Hey There!:

Sample Mean = 4.4823

SD = 0.1859

Sample Size (n) = 7

Standard Error (SE) = SD/root(n) = 0.0703

alpha (a) = 1-0.99 = 0.01

t(a/2, n-1 ) = 3.7074

Margin of Error (ME) = t(a/2,n-1)x SE = 0.2606

99% confidence interval is given by:

Sample Mean +/- (Margin of Error)

4.4823 +/- 0.2606 = (4.222 , 4.743)

Hope this helps!

Related Questions

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People want information communicated quickly and clearly. To make your writing more concise and understandable, avoid flabby expressions, long lead-ins, and unnecessary fillers.a. For the following sentence, choose the best revision.
1. I am sending you this letter to inform you that we have experienced an unexpected surprise within our expense sheet, but we are positively certain we will solve it.
A) We need to inform you that we have experienced an unexpected surprise with our expense sheet, but we are midway to an end result.
B) We have identified a problem with our expense sheet, but we will solve it.
C) I am sending you this letter to inform you that we have a problem with our expense sheet, but we are positively certain we have a solution.

Answers

Answer:

The best revision for the following sentence is:

B) We have identified a problem with our expense sheet, but we will solve it.

Explanation:

In e-mail, letters, messages, memos, and other business documents intended for a busy audience who appreciates getting the information they need quickly and easily, replacing a phrases with a word in a formal tone, detracting from adding meaning: "we have identified" instead of: "I am sending" or "we need to inform you", keeping the sentence just as it is with certain rhythm and concise.

Otherwise in option 1. I am sending you this letter to inform you that we have experienced an unexpected surprise within our expense sheet, but we are positively certain we will solve it.

The sentence has a redundant pair: "send" and "inform", it is “wordy,” and includes irrelevant “fillers” as "unexpected" that makes it lack of conciseness in the substantive information, not getting to the point promptly. I also includes passive voice which is not a grammatical error, but it often leads to using more words than necessary frustrating or confusing the audience; and it has prepositional phrases overuse: "that", within", "but" making this sentence clunky and unclear.

In option A) We need to inform you that we have experienced an unexpected surprise with our expense sheet, but we are midway to an end result.

The sentence has unnecessary modifiers: "unexpected" and "end", and passive voice again.

In option C) I am sending you this letter to inform you that we have a problem with our expense sheet, but we are positively certain we have a solution.

The sentence has unnecessary modifier: "positively".

The economic way of thinking stresses that good intentions lead to sound policy." How would you evaluate this statement? Check all that apply a. The statement is false because a policy motivated by good intentions may have unintended negative consequences. b. The statement is true because any policy that is backed by good intentions will always lead to beneficial outcomes for all involved c. The statement is true because only policies that have no unintended consequences are enacted by the government d. The statement is false because sound economic reasoning is required to anticipate unintended consequences of policies that are motivated by good intentions.

Answers

Answer:

a. The statement is false because a policy motivated by good intentions may have unintended negative consequences.

d. The statement is false because sound economic reasoning is required to anticipate unintended consequences of policies that are motivated by good intentions.

Explanation:

It is important to have good intentions when creating policies but a sound policy requires more than just good intentions.

To create a sound policy, sound economic principles and reasoning must be employed. This is important to predict and tackle unintended negative consequences that may arise, irrespective of how good the intentions were in creating the policies.

Final answer:

Merely having good intentions does not guarantee sound policy, particularly in economics. Sound economic reasoning is needed to anticipate possible consequences. Thus, the claim that good intentions lead to sound policy in economics is not entirely accurate.

Explanation:

The statement 'The economic way of thinking stresses that good intentions lead to sound policy' is not entirely valid. Merely having good intentions is not enough to ensure a sound policy, especially in an economic context. Economic reasoning is needed to ascertain the possible implications, both positive and negative, of a policy. As such, the elements a. and d. of the given options are correct:

The statement is false because a policy motivated by good intentions may have unintended negative consequences.
The statement is false because sound economic reasoning is required to anticipate unintended consequences of policies that are motivated by good intentions.

Learn more about Economic Policy here:

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endrik is in charge of his company’s subsidiary in Beijing. He recently received a large bonus check because the subsidiary had exceeded sales expectations by 25 percent. What aspect of organizational architecture did Kendrik benefit from? Multiple Choice processes incentives forecasts norms

Answers

Answer: Incentives

Explanation:

Incentive Fees which can also be known as Performance Fees are an ADDITIONAL form.of compensation that are tied to an Employee's salary based on their level of performance or more specifically, their level of Financial return.

They can be calculated in various ways but the main goal is to encourage the employee to keep up the good work.

Endrik received the Incentive of a large bonus check for Exceeding the Sales expectations of the company. This will spur him to keep up the good work.

As a contemporary manager, your employees will be motivated to provide you with important feedback if:A. you provide closed-end surveys on a monthly basis.
B. you prepare daily, company-wide passive voicemail messages.
C you institute a respectful rank and file politeness plan, where middle and higherlevel managers are addressed as "Mr.", "Ms", or "Dr.".
D. you solicit open-ended responses from your employees.

Answers

Answer:D

D, is the is the answer.

You would like to retire in 30 years. The expected rate of inflation is 2% per year. You currently have a standard of living that requires $7940 of monthly expenses. Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement

Answers

Answer:

You would need $14,382.21 to maintain your purchasing power.

Explanation:

Giving the following information:

You would like to retire in 30 years. The expected rate of inflation is 2% per year. You currently have a standard of living that requires $7940 of monthly expenses.

The inflation rate has the same intrinsic behavior as an investment with a compounded interest rate.

We need to use the following formula:

FV= PV*(1+i)^n

FV= 7,940*(1.02^30)

FV= $14,382.21

You would need $14,382.21 to maintain your purchasing power.

Sprint allocates general plant management costs on the basis of the number of production employees and plant security costs on the basis of space occupied by the production departments. In November, the following overhead costs were recorded: Melting Department direct overhead $110,000
Molding Department direct overhead 400,000
General plant management 100,000
Plant security 50,000

Other pertinent data follow:

Melting Molding
Number of employees 35 40
Space occupied (square feet) 10,000 20,000
Machine hours 10,000 2,000
Direct labor hours 4,000 20,000

Required:
a. Prepare a schedule allocating general plant management costs and plant security costs to the Melting and Molding Departments.
b. Determine the total departmental overhead costs for the Melting and Molding Departments.