The three components of the margin of error for a finite population are the t value,the standard error,and the finite population correction factor.
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An auto insurance company was interested in investigating accident rates for drivers in different age groups.The following table was based on a random sample of drivers and classifies drivers by age group and accident rate. Age Group Number of accidents in past 3 years Under 25 25−45 Over 45 00.1210.1960.38510.0860.0740.080>10.0250.0140.019\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Number of accidents } \\\text { in past 3 years }\end{array} & \text { Under 25 } & 25 - 45 & \text { Over 45 } \\\hline 0 & 0.121 & 0.196 & 0.385 \\\hline 1 & 0.086 & 0.074 & 0.080 \\\hline > 1 & 0.025 & 0.014 & 0.019 \\\hline\end{array} Number of accidents in past 3 years 01>1 Under 25 0.1210.0860.02525−450.1960.0740.014 Over 45 0.3850.0800.019 Suppose one of these people is selected at random.Compute the probability that the person is aged over 45.
Dynacan Ltd. manufactured 10,000 units of product last year and identified the following manufacturing and overhead costs. (V denotes "variable cost" and F denotes "fixed cost.") If unit variable costs and fixed costs remain unchanged, calculate the total cost to produce 9700 units this year.
An investor bought two bonds. bond A was an 8% bond at 102 and bond B was an 8½% bond at 104. The commission was $5 per bond. Compute how much greater the current yield from bond B is than from bond A. (Round yields to two decimal places.)