How to avoid the error by using a pre-estimation present

Reference no: EM13394879

The interest formula shows how interest, rate, and time are related. It gives you a way of finding one of these values if the other three values are known. Even though you try to be careful in your calculations, there will always be that occasion when you make an error and end up with an incorrect answer. You can avoid such errors by first predicting what a reasonable answer might be by estimating. As an example, if you have a 11.2% interest, you could use 11% to estimate what the correct result would be.

Search the internet to find an application of simple interest that you find interesting, that you encounter on a daily basis or that you find in your profession.

a. How could you avoid an error by using a pre-estimation? Present this application to the class and explain why you choose the example.

b. In what ways do you use estimating in your everyday life?

Include the URL for the site you used. Do not copy the text in the site verbatim. You should summarize your findings.

Reference no: EM13394879

Questions Cloud

The statement of cash flows reflects cash flows from : 1. which of the following statements is correct?a. typically a firmrsquos dps should exceed its eps.b. typically a

Both the external recruiting and internal recruiting of new : both external recruiting and internal recruiting of new managers have advantages and disadvantages for the

What are the two types of costs which are being minimized : the eoq model is based on a mathematical derivation with which you would not be expected to be familiar that achieves a

In recent years the idea of statistical sampling has been : while sampling is often used to measure a population there are some instances where an entire population is still

How to avoid the error by using a pre-estimation present : the interest formula shows how interest rate and time are related. it gives you a way of finding one of these values if

An hmo requests your hospital services for its obstetrics : an hmo requests your hospital services for its obstetrics division. it offers to pay your hospital 2000 for a vaginal

Compute the safety stock quantities and the inventory cost : consider the following data.inventory itemaverage demand annualsigma std. dev. of demand during lead timeitem unit

Assume that percentage annual return you obtain when you : suppose that the percentage annual return you obtain when you invest a dollar in gold or the stock market is dependent

Explain viral marketing and how it has help many businesses : explain viral marketing and how it has help many businesses to

User Account

All Pages