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That's not right, unfortunately. The principle governing this situation is the continuity equation, which says that the total flow rate past any given point is constant. Since the flow rate is given by the flow speed $v$ times the cross-sectional area of the hose $A$, one has that $$v_1 A_1 = v_2 A_2$$ for any two points along the flow. In particular, the velocity of the water coming out through the nozzle is $$v_{spout} = \frac{\big(3 \mathrm{cm/s} \big)A_{hose}}{A_{spout}}$$ where $A_{hose}$ is the cross-sectional area of the hose and $A_{spout}$ is the cross-sectional area of the aperature at the end of the nozzle.