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Caleb has $40 in a savings account that earns 5% interest per year. The interest is not compounded. How much will he have in 1 year?
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Arandom sample of n = 25 observations is taken from a n(µ, σ ) population. a 95% confidence interval for µ was calculated to be (42.16, 57.84). the researcher feels that this interval is too wide. you want to reduce the interval to a width at most 12 units. a) for a confidence level of 95%, calculate the smallest sample size needed. b) for a sample size fixed at n = 25, calculate the largest confidence level 100(1 − α)% needed.
Answers: 3
Caleb has $40 in a savings account that earns 5% interest per year. The interest is not
compounded....
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