Margin of error = 0.04; confidence level = 99%; educated guess = 0.5 a. Obtain a sample
Question:
Margin of error = 0.04; confidence level = 99%; educated guess = 0.5
a. Obtain a sample size that will ensure a margin of error of at most the one specified (provided of course that the observed value of the sample proportion is further from 0.5 than the educated guess).
b. Compare your answer to the corresponding one from Exercises 12.31-12.36 and explain the reason for the difference, if any.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
a Round this up to n 1037 b This is the same as ...View the full answer
Answered By
Ankur Gupta
I have a degree in finance from a well-renowned university and I have been working in the financial industry for over 10 years now. I have a lot of experience in financial management, and I have been teaching financial management courses at the university level for the past 5 years. I am extremely passionate about helping students learn and understand financial management, and I firmly believe that I have the necessary skills and knowledge to effectively tutor students in this subject.
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Statistics questions
-
Margin of error = 0.01; confidence level = 90%; likely range = 0.7 or greater We have specified a margin of error, a confidence level, and a likely range for the observed value of the sample...
-
1. Margin of error = 0.01; confidence level = 95% 2. Margin of error = 0.02; confidence level = 95% 3. Margin of error = 0.02; confidence level = 90% We have specified a margin of error and a...
-
Margin of error = 0.01; confidence level = 95%; educated guess = 0.3 a. Obtain a sample size that will ensure a margin of error of at most the one specified (provided of course that the observed...
-
Why are variances usually written off to cost of goods sold?
-
Angel White Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass...
-
A farm has produced fruit for more than two decades and sells it to supermarkets. This business leaves a net margin of around 0.27. In 2021, the owner began to produce and market natural smoothies...
-
Playing Pick 4. The Pick 4 games in many state lotteries announce a four-digit winning number each day. The winning number is essentially a fourdigit group from a table of random digits. You win if...
-
Dividends and Stock Price last month, central Virginia Power Company, which had been having trouble with cost overruns on a nuclear power plant that it had been building, announced that it was...
-
How do merchandisers who report under IFRS recognize revenue? Does this differ for companies that report under ASPE? How do merchandisers who report under IFRS recognize revenue? Revenue is...
-
Brown and Jeffreys, a West Midlands business, makes one standard product for use in the motor trade. The product, known as the Fuel Miser, for which the business holds the patent, when fitted to the...
-
Margin of error = 0.03; confidence level = 99%; educated guess = 0.5 a. Obtain a sample size that will ensure a margin of error of at most the one specified (provided of course that the observed...
-
Margin of error = 0.01; confidence level = 95%; likely range = 0.2 to 0.4 We have specified a margin of error, a confidence level, and a likely range for the observed value of the sample proportion....
-
For National Co., beginning capital balances on January 1, 2014, are Nancy Payne $20,000 and Ann Dody $18,000. During the year, drawings were Payne $8,000 and Dody $5,000. Net income was $40,000, and...
-
How do cognitive biases such as confirmation bias, anchoring, and the availability heuristic influence the quality of decision-making within complex organizational contexts ?
-
What role do cognitive biases, such as confirmation bias and anchoring, play in perpetuating conflict, and how can awareness of these biases facilitate more effective conflict resolution strategies?
-
Were you surprised by the results? Do you agree with the results? How can you use this knowledge of your personal biases to inform your management strategies? How can the identified biases impact...
-
what ways do existing power structures perpetuate social stratification, and what are the socio-political ramifications of these dynamics ?
-
How do feedback loops and reflective practices contribute to continuous improvement and the refinement of teamwork dynamics over time ? Explain
-
A large plane wall has a thickness L = 50 cm and thermal conductivity k = 25 W/m K. On the left surface (x = 0), it is subjected to a uniform heat flux q 0 while the surface temperature T 0 is...
-
Independent random samples of sizes n1 = 30 and n2 = 50 are taken from two normal populations having the means 1 = 78 and 2 = 75 and the variances 21 = 150 and 22 = 200. Use the results of Exercise...
-
What is the probability that a baby will be born on a Friday OR a Saturday OR a Sunday if all the days of the week are equally likely as birthdays?
-
Cards If one card is selected from a well-shuffled deck of 52 cards, what is the probability that the card will be a club OR a diamond OR a heart? What is the probability of the complement of this...
-
A StatCrunch poll asked people if college was worth the financial investment. They also asked the respondents gender. The table shows a summary of the responses. a. If a person is chosen randomly...
-
Suppose I have computed the cost of carbon per mile for my car at 0 . 0 1 2 per mile. Assume that the interest rate is 4 % and that I drive the car 2 8 , 0 0 0 miles per year. What is the present...
-
Imagine that in stable growth period, the firm earns ROIC of 10% and has after tax EBIT of 200 and reinvestment $ of 40. What is the steady state growth rate? 20% O 10% 2%
-
Tanner-UNF Corporation acquired as a long-term investment $160 million of 5.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until...
Study smarter with the SolutionInn App