Mr. Jones borrowed P 20,000 from a lending firm and an additional P 5,000 after 2 months.  He paid P 10,000 after 1 year and an additional payment of P 12,000 at the 18th month.  The lending firm demanding Mr. Jones to pay all at the end of 2 years.  If interest is 12% compounded monthly, how much will Mr. Jones pay at the end of 2 years. Note:  The reference of all the time is the time P20,000 is borrowed.

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Hypothesis Testing

In statistics, there are two ways to calculate the sample data. One is descriptive statistics and the other is inferential statistics.  In descriptive statistics, all of the information is defined through graphs and charts. In inferential statistics, it allows one to test the hypothesis and it is always used to predict the data. Inferential statistics has two main areas: estimating parameters and hypothesis testing. A hypothesis is a statement about the unknown parameter of the population which we want to verify from the information available from the sample. The premise may or may not be true. The estimation of the whole population would be a reasonable way of deciding if the statistical hypothesis is valid. There are two types of hypotheses. They are null hypothesis and alternative hypothesis.