A researcher wants to estimate the average monthly income of individuals in a certaincity. A random sample of 20 individuals is selected, and their monthly incomes (indollars) are recorded as follows:2,500 2,800 3,000 3,200 3,4003,500 3,6004,100 4,200 4,300 4,500 4,600 4,700 4,9003,700 3,800 4,0005,000 5,200 5,500Assuming the incomes are normally distributed, calculate the 90% confidence intervalfor the average monthly income of individuals in the city..Please show all the necessary steps and provide your answer with the appropriateinterpretation.Hints:• Calculate the sample mean and sample standard deviation.. Determine the critical value (t-value) for a 90% confidence level.• Calculate the margin of error using the critical value and sample standarddeviation.• Calculate the lower and upper bounds of the confidence interval using the samplemean and margin of error.• Interpret the confidence interval in the context of the problem.I

We are given the average monthly income of 20 individuals. Assuming that the incomes are normally…

Answered: A researcher wants to estimate the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Use the four-step method in problem solving to solve the problem. 33) An accountant receives a salary of $265,775 per year. During the year, he plans to spend $98,000 on 33) his mortgage, $59,000 on food, $33,000 on clothing, $42,000 on household expenses, and $25,000 on other expenses. With the money that is left, he expects to buy as many shares of stock at $225 per share as possible. How many shares will he be able to buy? A) 39 shares B) 38 shares C) 41 shares D) 36 shares
Judi Pendergrass is an account representative at Ever Pharmaceuticals. She has a company car for customer visits, which she uses to commute from home to work on Monday mornings and work to home on Friday nights, 50 weeks per year. Her commute is 23 miles each direction. Required:Using the commuting rule, what is the valuation of the fringe benefit? Value of fringe benefit
Don is using the floor plans for his new home to help him purchas base molding for the place where the walls meet the floor. The plans are drawn using a scale in which 1/3 inch represents 1 foot. He measures the walls on the floor plan with a ruler and finds they total 24 inches. If the molding costs $3.12 per foot, how much will Don spend on molding?
U.S. Census Bureau statistics show that the annual earnings for a person with a high-school diploma are $35,220 versus $57,925 for someone with abachelor’s degree. If the cost of attending college is assumed to be $30,000 per year for four years and the foregone earnings during those years is assumed to be $35,220 per year, what rate of return does earning a bachelor’s degree represent? Assume a 35-year study period.
In 2018, the Pew Internet & American Life Project asked 743 teens aged 13 to 17 several questions about their attitudes toward social media. The results showed that 602 say social media makes them feel more connected to what is going on in their friends’ lives; 513 say social media helps them interact with a more diverse group of people; and 275 feel pressure to post content that will get a lot of likes and comments. a. Develop a point estimate (p¯) of the population proportion of teens aged 13 to 17 who say social media makes them feel more connected to what is going on in their friends’ lives. b. Develop a point estimate (p¯) of the population proportion of teens aged 13 to 17 who say social media helps them interact with a more diverse group of people. c. Develop a point estimate ( p¯) of the population proportion of teens aged 13 to 17 who feel pressure to post content that will get a lot of likes and comments . for all (SHOW HOW YOU CALCULATE THE POINT ESTIMATE. (4 DECIMALS)
In 2007, the median cost of a new home was $235,500 (source. https//www census gov/const/uspric emon.pdf). If the CPI in 2007 was 100, and the CPI in 2017 was 137.27, what would the cost of a new home in 2007 be in 2017 dollars? Do not include a dollar sign in your answer. Round your answer to two (2) decimal places if necessary
7
g. Living Expenses: Assume reasonable values for your living expenses. (You may adjust these numbers to fit your estimated costs, but a good starting point for monthly costs are Utilities: $150, TV: $40, Internet: $30, Cell Phone: $40, Phone: $40) You should also include estimates for food, gas, entertainment, and any other expense you can think of. What is your monthly payment for all of your living expenses?
A medical clinic is randomly selecting three staff members to attend a conference. The clinic employees include 7 nurses, 3 doctors, and 4 office staff. What is the probability that three nurses are selected to attend the conference? O 0.10 0.13 0.42 O 0.50
Tom went to the store and bought two shirts for $50 each, socks for $10 and pants for $30. If the sales tax was 6%, what was the total purchase price? Round to the nearest cent (two decimal places). Your answer will look like this: 50.25 For your answer, do NOT include words, symbols, commas, etc.
In 2000, the ratio of people age 65 or older to people ages 20 to 64 in Ecocountry was 38,4 %. In the year 2060, this ratio is expected to be 56,8 %. Assuming a pay- as-you-go Social Security system, a) What change in the payroll tax rate between 2000 and 2060 would be needed to maintain the 2000 ratio of benefits to wages? b) If the tax rate were kept constant, what would happen to the ratio of benefits to wages? c) What other policies can be used for Social Security Reform?
Each Section should be completed in a separate spreadsheet tab and all calculations should be performed using Excel formulas: You graduated from college and landed a new job that will start in a couple of weeks. You need to purchase a car to commute to and from your new place of employment. You have decided to buy a car that costs $40,000, and will make a $5,000 down payment, resulting in the need to take out a $35,000 loan with a 5% annual interest rate that you will pay off in equal monthly installments over the next 5 years (60 months). Calculate and provide the following information: a) Calculate the monthly payment on the car loan. b) Prepare an amortization table for the car loan that provides separate columns for the following for each month of the car loan: Beginning loan balance; total payment amount, amount of monthly payment allocated to interest; amount of monthly payment allocated to the principal balance; and ending loan balance. (Your amortization table is likely…

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