Repeat Exercise 31 part (b), using a 99% confidence level and a margin of error of 2.5%.

Question:

Repeat Exercise 31 part (b), using a 99% confidence level and a margin of error of 2.5%. How does this sample size compare with your answer from Exercise 31 part (b)?

Exercise 31 part (b)

Find the minimum sample size needed, using a prior study that found that 63% of U.S. adults think that they should be saving more money.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Elementary Statistics Picturing The World

ISBN: 9780321911216

6th Edition

Authors: Ron Larson, Betsy Farber

See More Books

Question Posted: Nov 24, 2015 07:54 AM

See More Questions

In Exercise 9.31, two intervals were given for the same data, one for 95% confidence and one for 90% confidence. a. How would a 99% interval compare? Would it be narrower than both, wider than both,...
Certification Magazine conducted a salary survey of US IT (Information Technology) professionals, contacting a simple random sample of 7130 certified IT specialists. The sample average salary was...
Repeat Exercise using a 99% confidence level. What is unusual about the result? Does common sense suggest a modification of the result?
Suppose that a surgical ward has gathered the following information for four nursing activities and two types of patients for the current period: Required: 1. Determine the total nursing costs...
In your own words, explain how online behavioral targeting works.
2. Vincent Limited paid $100,000 to purchase equipment at the beginning of 2020. Vincent Limited estimated the useful life of the equipment to be 5 years or 200,000 units. The equipment will be...
Outline the main reasons for voluntary resignations
In the month of June, Paula's Beauty Salon gave 3,500 haircuts, shampoos, and permanents at an average price of $30. During the month, fixed costs were $16,800 and variable costs were 80% of sales....
The XYZ partnership has the following balance sheets: Basis FMV Land $40,000 $52,000 Inventory $20,000 $40,000 Unrealized Rec. $0 $25,000 Liabilities $12,000 $12,000 Capital, X $16,000 $35,000...
EXP is a small Chinese restaurant with take-away service located in London. It was established in 2006 by partners Keith and Tonina Hoang. EXP is run as an ordinary partnership w ith each partner...
You wish to estimate, with 95% confidence, the population proportion of U.S. adults who think they should be saving more money. Your estimate must be accurate within 5% of the population proportion....
The weights (in ounces) of 17 randomly selected superzoom digital cameras are listed. Use a 95% level of confidence. Assume the sample is from a normally distributed population and construct the...
It was January 2002, and Toyota Motor Europe Manufacturing (TMEM) had a problem. More specifically, Mr. Toyoda Shuhei, the new President of TMEM, had a problem. He was on his way to Toyota Motor...
The financial statements for the Columbia Sportswear Company can be found in Appendix A, and Under Armour, Inc.'s financial statements can be found in Appendix B at the end of this book. Required a....
Use the data from SE3-8 to prepare the closing entries for The Decade Company. Close the temporary accounts to income summary. The balance of $\$ 8,500$ in the retained earnings account is from the...
Adjusting Entries The following selected accounts appear in the Birch Company's unadjusted trial balance as of December 31, the end of the fiscal year (all accounts have normal balances): Required...
Closing Entries Use the information provided in E3-5A to prepare journal entries to close the accounts using the Income Summary account. After these entries are posted, what is the balance in the...
Ceva, Inc. manufactures and services jet engines for air carriers. The engines cost $$10$ to $$40$ million each, depending on the specifications and plane. A 10-year service contract for a single...
How is opportunity cost related to the supply of labor?
Solve each equation or inequality. |6x8-4 = 0
The following trial balance has been extracted from the books of Baganza plc as at 30 September 19X7: Required: Insofar as the information permits, prepare Baganza plcs profit and loss account for...
Find the critical values x 2 R and x 2 L for the level of confidence c and sample size n. c = 0.99, n = 15
The grade point averages of 14 randomly selected college students 2.3 3.3 2.6 1.8 3.1 4.0 0.7 2.3 2.0 3.1 3.4 1.3 2.6 2.6 Use the data set to (a) Find the sample mean, (b) Find the sample standard...
Construct the indicated confidence interval for the population mean . c = 0.90, x = 12.3, = 1.5, n = 50
The following are the information of Chun Equipment Company for Year 2 . ( Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated. ) Salaries...
Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Beginning inventory, January 1, 2018 1,250 units...
Fibertech GmbH is a distributor of outdoors technical clothing. The company outsources the production of clothing to external manufacturers in Bangladesh and sells the clothing under its own brands....

Repeat Exercise 31 part (b), using a 99% confidence level and a margin of error of 2.5%.

Question:

Step by Step Answer:

n p q z c E 2 063 03...View the full answer

Elementary Statistics Picturing The World

Students also viewed these Statistics questions