8.12A Simple & Compound Interest 1.
Kelly deposits $600 into a new savings account that pays 4% simple interest
annually. Oscar deposits $600 into a new savings account that pays 4% interest
compounded annually. If both Kelly and Oscar leave their $600 deposits in their
accounts for 3 years, how much more will Oscar's deposit earn in interest than
Kelly's deposit?
A $1.96
B $2.92
C $50.92
D $74.92
2.
000

An automobile assembly line operation has a scheduled mean completion time, μ, of 12 minutes. the standard deviation of completion times is 1.6 minutes. it is claimed that, under new management, the mean completion time has decreased. to test this claim, a random sample of 33 completion times under new management was taken. the sample had a mean of 11.2 minutes. assume that the population is normally distributed. can we support, at the 0.05 level of significance, the claim that the mean completion time has decreased under new management? assume that the standard deviation of completion times has not changed.