Statistics: The Art and Science of Learning from Data (4th Edition)
4th Edition
ISBN: 9780321997838
Author: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 12.5, Problem 55PB
a.
To determine
Explain the reason why 7.2% interest a year would double the saving in a decade.
b.
To determine
Explain the reason why an interest of 10% a year would actually cause a person’s savings to multiply by 2.59 over a decade.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Which expression shows the value of a $ 2500 investment after it has grown by 4.5% per year for 12 years?
Pls help ASAP
Alexi made monthly contributions of $450 to his retirement account that earns interest at a
rate of 5%/year compounded monthly for 25 years. At the age of 50 he needed to stop
contributions to help his parents financially. He made no additional contributions and no
withdrawals for the next 15 years, but the money in the account continued to earn interest.
How much money is in his account when he turns 65?
Use units and context in your answer, round to two decimal places.
Chapter 12 Solutions
Statistics: The Art and Science of Learning from Data (4th Edition)
Ch. 12.1 - Car mileage and weight The Car Weight and Mileage...Ch. 12.1 - Prob. 2PBCh. 12.1 - Predicting maximum bench strength in males For the...Ch. 12.1 - Prob. 4PBCh. 12.1 - Mu, not y For a population regression equation,...Ch. 12.1 - Prob. 6PBCh. 12.1 - Study time and college GPA Exercise 3.39 in...Ch. 12.1 - Prob. 8PBCh. 12.1 - Cell phone specs Refer to the cell phone data set...Ch. 12.1 - Prob. 10PB
Ch. 12.2 - t-score? A regression analysis is conducted with...Ch. 12.2 - Prob. 12PBCh. 12.2 - Confidence interval for slope Refer to the...Ch. 12.2 - Prob. 14PBCh. 12.2 - Strength through leg press The high school female...Ch. 12.2 - Prob. 16PBCh. 12.2 - More girls are good? Repeat the previous exercise...Ch. 12.2 - CI and two-sided tests correspond Refer to the...Ch. 12.2 - Advertising and sales Each month, the owner of Caf...Ch. 12.2 - Prob. 20PBCh. 12.2 - GPA and skipping classrevisited Refer to the...Ch. 12.2 - Prob. 22PBCh. 12.3 - Dollars and thousands of dollars If a slope is...Ch. 12.3 - Prob. 24PBCh. 12.3 - Sketch scatterplot Sketch a scatterplot,...Ch. 12.3 - Prob. 26PBCh. 12.3 - Body fat For the Male Athlete Strength data file...Ch. 12.3 - Prob. 28PBCh. 12.3 - SAT regression toward mean Refer to the previous...Ch. 12.3 - Prob. 30PBCh. 12.3 - GPA and study time Refer to the association you...Ch. 12.3 - Prob. 32PBCh. 12.3 - Does tutoring help? For a class of 100 students,...Ch. 12.3 - Prob. 34PBCh. 12.3 - Golf regression In the first round of a golf...Ch. 12.3 - Prob. 36PBCh. 12.3 - Food and drink sales The owner of Berthas...Ch. 12.3 - Prob. 38PBCh. 12.3 - Violent crime and single-parent families Use...Ch. 12.4 - Poor predicted strengths The MINITAB output shows...Ch. 12.4 - Prob. 42PBCh. 12.4 - Bench press residuals The figure is a histogram of...Ch. 12.4 - Predicting house prices The House Selling Prices...Ch. 12.4 - Predicting clothes purchases For a random sample...Ch. 12.4 - Prob. 46PBCh. 12.4 - ANOVA table for leg press Exercise 12.15 referred...Ch. 12.4 - Prob. 48PBCh. 12.4 - Variability and F Refer to the previous two...Ch. 12.4 - Understanding an ANOVA table For a random sample...Ch. 12.4 - Predicting cell phone weight Refer to the cell...Ch. 12.4 - Cell phone ANOVA Report the ANOVA table for the...Ch. 12.5 - Savings grow exponentially You invest 100 in a...Ch. 12.5 - Prob. 55PBCh. 12.5 - Prob. 56PBCh. 12.5 - Prob. 57PBCh. 12.5 - Prob. 58PBCh. 12.5 - Prob. 59PBCh. 12.5 - Prob. 60PBCh. 12.5 - Prob. 61PBCh. 12 - Prob. 62CPCh. 12 - Prob. 63CPCh. 12 - Prob. 64CPCh. 12 - Prob. 65CPCh. 12 - Prob. 66CPCh. 12 - Prob. 67CPCh. 12 - Prob. 68CPCh. 12 - Prob. 69CPCh. 12 - Prob. 70CPCh. 12 - Prob. 71CPCh. 12 - Prob. 72CPCh. 12 - Prob. 73CPCh. 12 - Prob. 74CPCh. 12 - World population growth The table shows the world...Ch. 12 - Prob. 76CPCh. 12 - Prob. 77CPCh. 12 - Prob. 78CPCh. 12 - Prob. 79CPCh. 12 - Prob. 81CPCh. 12 - Prob. 82CPCh. 12 - Prob. 83CPCh. 12 - Prob. 84CPCh. 12 - Prob. 85CPCh. 12 - Prob. 86CPCh. 12 - Prob. 87CPCh. 12 - Prob. 88CPCh. 12 - Prob. 89CPCh. 12 - Assumptions What assumptions are needed to use the...Ch. 12 - Assumptions fail? Refer to the previous exercise....Ch. 12 - Lots of standard deviations Explain carefully the...Ch. 12 - Decrease in home values A Freddie Mac quarterly...Ch. 12 - Population growth Exercise 12.57 about U.S....Ch. 12 - Multiple choice: Interpret r One can interpret r =...Ch. 12 - Multiple choice: Correlation invalid The...Ch. 12 - Multiple choice: Slope and correlation The slope...Ch. 12 - Multiple choice: Regress x on y The regression of...Ch. 12 - Multiple choice: Income and height University of...Ch. 12 - True or false The variables y = annual income...Ch. 12 - Prob. 101CPCh. 12 - Why is there regression toward the mean? Refer to...Ch. 12 - Prob. 103CPCh. 12 - Prob. 104CPCh. 12 - Prob. 105CPCh. 12 - Prob. 106CP
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Refer to Example 9. To the nearest dollar, how much would Lily need to invest if the account is compounded quarterly?arrow_forwardIn the following exercises, solve the problem. 184. New grandparents decide to invest $100 per month in an annuity for their grandchild. The account will pay 6% interest per year which is compounded monthly (12 times a year). How much will be in the child's account at their twenty-first birthday?arrow_forwardInvestments What annual rate of interest would you have to earn on an investment og $3500 to ensure receiving $262.50 interest after 1 year?arrow_forward
- In the following exercises, solve the problem. 185. Berenice just got her first full-time job after graduating from college at age 30. She decided to invest $500 per quarter in an IRA (an annuity). The interest on the annuity is 7% which is compounded quarterly (4 times a year). How much will be in the Berenice's account when she retires at age 65?arrow_forwardIn the following exercises, use an exponential model to solve. 115. Edgar accumulated $5,000 in credit card debt. If the interest rate is 20% per year, and he does not make any payments for 2 years, how much will he owe on this debt in 2 years by each method of compounding? a. compound quarterly b. compound monthly c. compound continuouslyarrow_forwardYou accept a job with an annual income of $58,400 . This includes your salary and a $1200 year-end bonus. You are paid weekly. What is your salary per pay period?arrow_forward
- In the following exercises, use an exponential model to solve. 118. Nazerhy deposits $8,000 in a certificate of deposit. The annual interest rate is 6% and the interest will be compounded quarterly. How much will the certificate be worth in 10 years?arrow_forwardTRY IT ::9.6 Steve saves 12% of his paycheck each month. If he saved$ 504 last month, how much was his paycheck?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage LearningHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
- College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Use of ALGEBRA in REAL LIFE; Author: Fast and Easy Maths !;https://www.youtube.com/watch?v=9_PbWFpvkDc;License: Standard YouTube License, CC-BY
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY