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The price of a small cabin is $50,000. The bank requires a 5% down payment. The buyer is offered two mortgage options; 20- year fixed at 7% or 30- year at 7%. Calculate the amount of interest paid for each option. How much does the buyer save in interest with the 20-year option?
A. find the monthly payment for the 20 year option and round to the nearest dollar.
B. Find the monthly payment for the 30 year option and round to the nearest dollarC. Calculate the total cost of interest for both mortgage options. How much does the buyer save in interest with the 20 year option ?
What does confidence interval tell you? What does it mean? What 2 things can a researcher do to decrease width of a confidence interval? What are the effects?
There are many nonparametric tests that have been developed over the years. Explain what nonparametric tests are and why they were developed.
The plant manager wants to evaluate the capability of a critical cutting operation that he suspects might be the source of the gap problem. The nominal specification for this cutting operation is 25.500 inches.
Suppose an airport scanning device has 98% accuracy in detecting certain kinds of metal objects (98% of people carrying these objects are correctly identified as carriers and 98% of people not carrying them are correctly identified as non-carriers..
Woodco manufactures tables and chairs. Each table and chair must be made entirely out of oak or entirely out of pine. A total of 150 board feet of oak and 210 board feet of pine are available.
Make a List of type of possible errors. Assume that you were interested in knowing the mean score for a certain quiz in a statistics class.
Jessica must finish two courses (much like myself), statistics and economics, in order to complete the requirements for a BA degree. All along she has maintained an 80% average.
Proportion of free throw attempts that are successful. In the NBA, FT% is normally distributed with a mean of 0.721 and a standard deviation of 0.082. Which percentage of NBA players have a FT% lower than 0.784?
Explore the descriptive statistics and draw some scatter plots. Does this meet the basic assumptions of regression?
The proportion of parts in an inventory that are outdated and no longer useful is thought to be 0.10. To check this, a random sample of n = 100 parts is selected and 14 are found to be outdated. Based upon this information, what is the probability..
Critically illustrate out the limitations of seasonal forecasting? Provide examples.
Why is it necessary to study the order of operations and the laws of operations before you start solving equations? Of the three laws, commutative, associative, and distributive, which one is most frequently used in algebra? Why?
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