A Local Group Claims That the Police Issue More Than $\alpha$

question 12

Essay

A local group claims that the police issue more than 60 speeding tickets a day in their area. To prove their
point, they randomly select two weeks. Their research yields the number of tickets issued for each day. The
data are listed below. At α $\alpha$ = 0.02, test the groupʹs claim using confidence intervals. $$\begin{array} { l l l l l l l } 70 & 48 & 41 & 68 & 69 & 55 & 70 \\57 & 60 & 83 & 32 & 60 & 72 & 58\end{array}$$

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Definitions:

Effective Rate

The interest rate on a loan or financial product, restated from the nominal rate as an annual rate accounting for compound interest.

Interest Charged

The cost of borrowing money, calculated as a percentage of the principal amount on a loan or credit.

Semiannual Compounding

Interest calculation method where the interest is added to the principal twice a year, leading to compound interest growth.

Effective Rate

The equivalent annual interest rate when compounding at intervals different from annually. It reflects the total amount of interest paid or earned over a year.