9.6 A firm has 10 000 to spend on a survey. It wishes to know the average
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9.6 A firm has £10 000 to spend on a survey. It wishes to know the average expenditure on gas by businesses to within £30 with 99% confidence. The variance of expenditure is believed to be about 40 000. The survey costs £7000 to set up and then £15 to survey each firm. Can the firm achieve its aim with the budget available?
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Related Book For
Statistics For Economics Accounting And Business Studies
ISBN: 9780273743286
5th Edition
Authors: Mr Michael Barrow
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