If the rate of inflation is 2.8% per year, the future price p(t) ( in dollars ) of a certain item can be modeled by the following exponential function, where t is the number of years from today. p(t) = 1200(1.028)t

find the current price of the item and the price 9 years from today. Round your answers to the nearest dollar as necessary.
Current price: _$
Price 9 years from today: _$

According to a study conducted in 2015, 18% of shoppers said that they prefer to buy generic instead of name-brand products. suppose that in a recent sample of 1500 shoppers, 315 stated that they prefer to buy generic instead of name-brand products. at a 5% significance level, can you conclude that the proportion of all shoppers who currently prefer to buy generic instead of name-brand products is higher than .18? use both the p-value and the critical-value approaches.